Multichain Bridge Drained in Suspected Key Compromise
- Bridge
- DeFi
- Security
Multichain bridge suffered a major exploit with roughly $126 million drained across multiple chains. The attacker used compromised private keys tied to the deployer wallet. CT debated whether it was a hack or insider rug given the lack of timelock and single point of failure. Chainalysis later confirmed faulty access controls allowed the theft.
Incident Details
- Type
- BRIDGE HACK
- Funds Lost
- $126M
- Status
- Partial recovery
Protocol paused, team accused of poor key management, partial recovery attempts failed