Hackers have targeted the cross-chain protocol Multichain, leading to a confirmed breach of transactions. However, the backlog of queued transactions has reduced to only one transaction, according to data from Multichain’s explorer tool. It is worth noting that while some transactions have been confirmed on the destination chain, others appear as confirmed on the Multichain explorer but not on the destination chain.
Due to the hack, browsers with the Metamask wallet extension display a warning when attempting to view the Multichain explorer. However, users can still access it using a browser without a Web3 wallet installed. It is important to highlight that connecting to Multichain with a wallet app is not recommended, as the site itself may also pose security risks.
The transactions seem to originate from a limited number of addresses, indicating that they could be an effort by the attacker to move funds or potentially part of a recovery effort by the Multichain team. As of 9:30 pm UTC, only one transaction remains pending on Multichain’s explorer.
Multichain’s block explorer reveals that transactions started confirming around 9 am on November 1. Some transactions have been successfully confirmed on the destination chain. For instance, a deposit of approximately 20 DAI from Ethereum to Avalanche was confirmed on Avalanche at 1:56 pm UTC. However, a deposit of 0.1 BTC from Ethereum to Polygon at 2:44 pm UTC shows as confirmed on the Multichain block explorer but has not been confirmed on Polygon.
The resumption of transactions was detected by the blockchain analytics platform Cyvers in the morning and promptly shared the information on X (formerly Twitter). This marks a significant development after Multichain faced a $126 million hack on July 6th. Cyvers alerted Twitter users to the exciting news, stating that Multichain has resumed processing bridge transactions after 117 days of downtime, with several bridge transactions successfully going through.
Some of the sending accounts involved in the transactions show multiple transactions on November 1, suggesting that the sender had confidence in the protocol’s functionality.
It is important to note that this is a developing story, and further information will be provided as it becomes available. Ensuring the security of transactions and maintaining trust in the blockchain ecosystem remains a priority for all stakeholders involved.
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