Multichain Bridge Exploit Drains Funds
- Bridge
- Security
- DeFi
Multichain suffered a major exploit on July 23 2023 with over $100M moved from user deposits. The attacker used compromised private keys tied to the founder. Chainalysis later confirmed the incident involved faulty key management rather than a simple rug pull.
Incident Details
- Type
- BRIDGE HACK
- Funds Lost
- $100M
- Status
- Total loss
Funds moved across chains. Partial recovery attempts failed.