Greater than $1.5 million in Ethereum is lacking from the MultiChain hack

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More than $1.5 million in ETH is missing from the multichain hack after a vulnerability in the cross-chain router protocol drained $3 million from hackers, we continue reading in our latest Ethereum news.

The white-hat hacker returned 322 Ethereum after an exploit stripped more than $3 million worth of crypto from Multichain users this week, and more than $1.5 million in Ethereum is still at large. Multichain is a cross-chain router protocol that connects users between thirty different blockchains such as Etheruem, TERra, and Bitcoin. This week’s critical vulnerability appears to have affected six of the protocol’s tokens such as Peri Finance, OFFicial MArs Token WRapped BNB, Wrapped ETH, Polygon, and AVAX. Multichain announced that the issue has been fixed and reported.

After the announcement, more attackers came in and were able to exploit the protocol via the same vulnerability, with one hacker stealing up to $1.4 million. In the crypto spaces, the critical vulnerabilities are not only exploited by self-interested criminals, but also attract the attention of blockchain vigilantes, so-called white-hat hackers, who exploit vulnerabilities to report them and collect a bounty

As recently reported, cryptocurrency exchange Crypto.com suffered a hack that stole at least $15 million worth of ETH. Despite the reports of missing funds, the platform has yet to confirm that it is indeed an attack. With almost $3 billion in trading volume over the past day, Crypto.com is the fourth largest centralized crypto exchange, according to Coingecko. Events took a turn for the worse when security firm Peckshiled announced on Twitter that the exchange had lost about 4600 ETH, or about $15 million at current prices. Peckshield added that half of the stolen funds were sent to Tornado Cash, the well-known blending service. Peckshiled said the true extent of the damage was actually worse. A few hours later, Crypto.com CEO Kris Marszalek said no customer funds were lost.

Cream Raid, Hacker, Fees, Eth, Transaction

CityDao, an experiment in decentralized land ownership, fell victim to a $95,000 hack by scammers on messaging site Discord. The attacker hacked one of the project’s administrator accounts on Discord, according to the group’s Twitter account. CityDAO falls victim to a hack when the founders bought 40 acres of land in Wyoming to create a blockchain city in November. The goal of the project is to build a city with decentralized governance where people can buy land in the form of NFTs, and CityDAO uses Discord to issue alerts known as Land Drops when there are enough opportunities to buy NFTs to buy.

A leader in many crypto news categories, DC Forecasts strives for the highest journalistic standards and adheres to strict editorial guidelines. If you are interested in offering your expertise or contributing to our news site, please feel free to contact us at [email protected]


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