Multichain Hacking Continues, Losses Grow $3M (Estimated)!

Multi-chain users have lost more than $3 million due to an unresolved vulnerability that surfaced on January 17 in six supported tokens.

This week, Multichain asked users to revoke permissions on six tokens to protect their assets from being exploited by malicious individuals.

However, Multichain's announcement on Jan 17 encouraged more hackers to test the vulnerability. One stole $1.43 million, another offered to return 80% and keep the rest as a tip.

According to Tal Be'ery, the co-founder of the ZenGo wallet, the amount stolen has now risen to $3 million.

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Six supported tokens remain affected by the vulnerability, including WETH, PERI, OMT, WBNB, MATIC, and AVAX.

Users have accused the company on social networks of not having informed or supported them with sufficient clarity about the situation.

A user who lost $960,000 offered 50 ETH to the hacker's address in exchange for the remaining funds.

The company claimed on Jan 17 that the critical vulnerability affecting all six tokens was reported and fixed on Jan 17, but on Jan 19 it again reminded users to revoke token approvals.

Since then, Multichain has disabled comments on its recent tweets.

While saing he was "incredibly confused" by the platform's message, while "drarreg17" asked Multichain what it will do to "compensate users like me who have been affected by the vulnerabilities."

It still hasn't been able to close the security hole, nor has it been able to offer its users the desired support.

According to Be'ery, the company contacted the original address ess, which held more than 450 ETH (1.43 million) in stolen funds as of Jan 18, and offered the hacker or hackers a "vulnerability reward."

Multichain (formerly Anyswap) plans to be the ultimate router for Web 3. (AVAX), Ethereum (ETH), Fantom (FTM), Litecoin (LTC), and Terra (LUNA), offering zero-slip swapping.

With nearly $9 billion in TVL, it's unclear when and how Multichain will resolve the situation. Cointelegraph reached out to the project for comment.