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Security experts Chainalysis have highlighted the possibility of a rug pull by the Multichain team. Meanwhile, there were outflows worth over $10.2 million on Tuesday. On-chain data shows that more than $102 million worth of crypto was withdrawn from Multichain’s Fantom bridge contract on Ethereum. This included $31 million in Wrapped Bitcoin (WBTC) Blockchain data firm Chainalysis has suggested that the exploit was a “hack or rug pull by insiders,” with many ecosystem participants perplexed. Multichain has been locked since May “On J, cross-chain bridge protocol Multichain experienced unusually large, unauthorized withdrawals in what appears to be a hack or rug pull by insiders,” the firm wrote Días después de sufrir una serie de retiros millonarios misteriosos de su plataforma, el puente de cadenas cruzadas, Multichain, ha despertado dudas sobre si la In total, addresses frozen by the two stablecoin issuers hold approximately $65 million in assets stolen from Multichain. Multichain’s recent problems have some Cross-chain router protocol Multichain has been exploited for nearly $130 million after an attacker siphoned capital out of numerous token bridges. A new report from Chainalysis suggests that the According to Chainalysis, a blockchain analytics company, the aforementioned hack is suspected to be an internal rug pull. The firm speculated that the exploit may have occurred due to Over $125 Million of users’ funds was stolen from the cross-chain router protocol Multichain (previously AnySwap) on July 6 to what appears a hack or a rug pull by

Multichain $122 Million Outflow Sparks Debate: Hack or Rug Pull?

The crypto world is buzzing after a massive $122 million outflow from the cross-chain router protocol Multichain. The question on everyone\'s mind: Was it a devastating hack or a deliberate rug pull? This event has left many ecosystem participants perplexed, raising serious concerns about the security and trustworthiness of cross-chain bridges.

On July 6th, Multichain (previously AnySwap) experienced unusually large, unauthorized withdrawals, impacting numerous token bridges. Over $125 Million of users’ funds vanished. This triggered immediate speculation and an intense investigation into the cause of the sudden exodus.

Security experts Chainalysis have weighed in, highlighting the possibility of a rug pull by the Multichain team. According to Chainalysis, this aforementioned incident is suspected to be an internal rug pull, further fueling the debate and casting a shadow of doubt over the project\'s integrity.

The situation escalated further with outflows worth over $10.2 million on Tuesday. On-chain data reveals that more than $102 million worth of crypto was withdrawn from Multichain’s Fantom bridge contract on Ethereum. This included a significant amount of $31 million in Wrapped Bitcoin (WBTC). The scale of these withdrawals underscores the severity of the situation.

The firm wrote, “On J, cross-chain bridge protocol Multichain experienced unusually large, unauthorized withdrawals in what appears to be a hack or rug pull by insiders." Chainalysis\'s report further emphasizes the uncertainty and potential for malicious intent. Días después de sufrir una serie de retiros millonarios misteriosos de su plataforma, el puente de cadenas cruzadas, Multichain, ha despertado dudas sobre si la.

While the investigation continues, asset recovery efforts are underway. In total, addresses frozen by the two stablecoin issuers hold approximately $65 million in assets stolen from Multichain. This partial recovery offers a glimmer of hope, but the fate of the remaining funds remains uncertain.

The exploit, whether a hack or a rug pull, has had significant ramifications. Multichain’s recent problems have some questioning the future of the platform. The event serves as a stark reminder of the inherent risks associated with cross-chain bridges and the importance of robust security measures.

Cross-chain router protocol Multichain has been exploited for nearly $130 million after an attacker siphoned capital out of numerous token bridges. A new report from Chainalysis suggests that the, which speculated that the exploit may have occurred due to [REDACTED - Missing Information]. The exact mechanism behind the exploit remains under investigation, but the consequences are clear.

As the investigation unfolds, the crypto community awaits definitive answers. Was it a sophisticated hack, or a calculated rug pull? The truth will determine the future of Multichain and will undoubtedly influence the perception of cross-chain technology as a whole.

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