Fantom Moves to Liquidate Multichain after July Exploit, Seeking to Recover $70M
Prior to taking legal action against Multichain, Fantom had attempted to engage with the protocol’s former directors and key personnel.
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Prior to taking legal action against Multichain, Fantom had attempted to engage with the protocol’s former directors and key personnel.
The Orbit Chain developers said they have involved law enforcement agencies to help track the hackers and possibly freeze the stolen funds.
Ledger claims that the funds were drained in less than two hours, after which it came on top of the situation.
Stablecoin issuers Circle and Tether have initiated action and blacklisted more than $67 million of stolen funds in USDC and USDT, which is around 50% of the stolen amount from the cross-chain protocol.
Multichain has now warned that because of the exploit, all transactions will be stuck on source chains until further notice.