Multichain Sees Large Unusual Outflows of Multiple Bridge Contract Token

Multiple bridge contracts operated by Multichain have seen large and unusual outflows of multiple tokens, including nearly all of Multichain's Fantom Bridge holdings in wBTC, USDC, USDT and a handful of cryptocurrencies, with a combined value of more than $130 million. said that an investigation is underway. 

In addition, Multichain's Moonriver bridge contract saw $6.8 million in token outflows, with nearly all of wBTC, USDT, USDC and DAI going to addresses beginning with 0x48BeAD. One Dogecoin bridge address, identified as Mulitchain, has seen over 600,000 USDC outflows. 

Assets transferred out of the Multichain Fantom bridge include at least $20 million in cryptocurrencies including DAI, LINK and USDT to the 0x9d57 header, while other transfers include 1,023 wBTC (~$30.9 million), 7,214 wETH (~$13.6 million) and $57 million USDC.