Multichain recovers $2.6M stolen funds, to reimburse losses on condition
The cross-chain router protocol recovered nearly 50% of the total stolen funds and devised a compensation plan for eligible investors. After a month-long fight against an ongoing exploit, cross-chain router protocol Multichain announced the recovery of nearly 50% of the total stolen funds, worth nearly $2.6 million of cryptocurrencies. The team has also released a compensation plan to reimburse the users’ losses.On Jan. 10, blockchain security expert Dedaub alerted Multichain about two vulnerabilities in its liquidity pool and router contracts — affecting eight cryptocurrencies including....
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Kucoin chief executive officer Johnny Lyu revealed Wednesday that the exchange recovered 84%, or $235 million, of the $280 million stolen in one of crypto industry’s biggest hacks in September. In a tweet, Lyu said the affected funds have been recovered “via approaches like on-chain tracking, contract upgrade and judicial recovery. As asked by the law enforcements, we will publish all the details once the case is closed.” The Kucoin co-founder stated that the exchange has resumed trading for 176 tokens and the rest will be re-opened before November 22. Hackers made off....
Multichain users have lost over $3 million due to an unsolved security vulnerability that appeared in six supported tokens on Jan. 17. Hackers have continued to exploit a critical vulnerability in the cross-chain router protocol (CRP) Multichain that first appeared on Jan 17.Earlier this week, Multichain urged users to revoke approvals for six tokens to protect their assets from being exploited by malicious individuals. However Multichain's announcement on Jan. 17 encouraged more hackers to try the exploit. One stole $1.43 million, another offered to return 80% while keeping the rest as a....
On Sunday, the multichain decentralized exchange aggregator Transit Swap suffered an exploit resulting in $23 million losses. But fortunately, the project’s team managed to recover 70% of the stolen funds on the same day with the help of several blockchain security firms, which facilitated the platform immediately after the incident. The blockchain security firms which […]
Owing to a security vulnerability in six tokens, Multichain users lost more than $3M over the week. A white hat hacker returned 322 ETH, but in excess of 527 ETH is still exploited. In a dramatic twist, one of this week’s Multichain hackers has returned 322 ETH ($974,000 at the time of writing) to the cross-chain router protocol and one of the affected users.However the hacker kept 62 ETH ($187,000) as a “bug bounty”, and a total of 528 ETH (worth $1.6M) remains outstanding after the exploits. Earlier this week, news emerged of a security vulnerability with Multichain relating to the....
Cross-chain DeFi platform Multichain has been the latest in what is now a long line of DeFi protocols being exploited. This time around, the attackers were able to steal user funds from the platform by gaining access to accounts that haven’t revoked access to the platform. In total, about $1.5 million was lost to hackers […]