Multichain Bridge Drained
- Bridge
- DeFi
- Security
On July 6 2023 cross-chain bridge Multichain suffered massive unauthorized withdrawals exceeding $100 million across chains. Funds moved from the protocol's multisig in what appeared to be an insider job or hack. Affected ecosystems including Fantom paused bridges while the team went dark and users lost access to bridged assets.
Incident Details
- Type
- BRIDGE HACK
- Funds Lost
- $102M
- Status
- Ongoing
Protocol team unresponsive for days. Multiple chains halted bridging. Partial recovery attempts failed.