Oh, Look, Another Bridge Was Hacked
Circle and Tether have frozen over $65 million in assets linked to a suspected exploit of Multichain, a cross-chain router protocol. 🤦♂️
This action followed unexplained outflows from the Multichain MPC bridge on July 6. Three addresses receiving $63.2 million in $USDC from Multichain have been frozen, and the Fantom Foundation reported freezing over $2.5 million in $USDT held by two addresses labeled as “Multichain Suspicious Addresses” on Etherscan.