Tens of millions of dollars of tokens withdrawn from Multichain bridge on Fantom network
Multiple tokens, including USDC, wrapped bitcoin, wrapped ether, DAI, Chainlink, and UniDex, have been withdrawn from the Multichain bridge on the Fantom network. Security firms suspect a possible security breach.
Key Points:
- $58 million worth of USDC, $30.9 million worth of wrapped bitcoin, $13.7 million worth of wrapped ether, and $4 million worth of DAI were among the tokens moved.
- Security firm PeckShield questions if the move is related to LayerZero’s support for four tokens, but the complete list of moved tokens does not align with this.
- The CEO of LayerZero, Bryan Pellegrino, is unaware of the situation and is investigating.
- The Multichain bridge relies on multi-party computation involving 21 nodes to authorize fund transfers.
- Both Multichain and Fantom have not yet responded to requests for comment.
Hot Take: The withdrawal of millions of dollars’ worth of tokens from the Multichain bridge raises concerns about the security of the Fantom network. It remains to be seen whether this incident is indeed a security breach or if there are other factors at play. The involvement of security firms and the ongoing investigation will shed light on the situation.
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