Multichain Financial News

11.07 / 05:25

Blockchain Hackers hacks Multichain Multichain's ‘mysterious withdrawals’ have whiffs of a ‘rug pull’ — Chainalysis

The multi-million dollar exploit of cross-chain bridge protocol Multichain could have been an internal rug pull, according to blockchain security and analytics firm Chainalysis.

10.07 / 19:57

Blockchain Ethereum Stablecoin defi Developers Tokens Standard Multichain Connext founder proposes 'Sovereign Bridged Token' standard after Multichain incident

An Ethereum Improvement Proposal (EIP) made on July 7 seeks to standardize how tokens are bridged between networks. The “Sovereign Bridged Token” standard, or EIP-7281, allows token issuers to create canonical bridges across multiple networks.

09.07 / 08:53

business Blockchain Hackers hacks phishing fantom Multichain Multichain attack triggers Twitter phishing scheme for FTM distribution

Hackers continue their relentless attacks, displaying no signs of slowing down. Shortly after the Multichain hack, scammers started spreading a phishing link on Twitter.

08.07 / 21:15

Blockchain Hackers hacks fantom Multichain Circle, Tether freezes over $65M in assets transferred from Multichain

Stablecoin issuers Circle and Tether have frozen over $65 million in assets tied to the suspected exploit of cross-chain router protocol Multichain. The move follows unexplained large outflows from the Multichain MPC bridge on July 6.

08.07 / 09:39

Blockchain Provident Binance Digital Platform Multichain freeze Multichain Breach Forces Circle to Freeze $63 Million in USDC

USD Coin (USDC) issuer Circle has frozen $63 million belonging to three wallet addresses associated with the hack of the cross-chain bridge platform Multichain.

07.07 / 13:11

Blockchain UPS Lowe's Align Exodus Multichain Fantom Coin is Going to Zero After Multichain Bridge Hack but Crypto Whales are Accumulating This Other Coin Instead – Just 10 Days Left

The price of Fantom Coin (FTM) has dived by 11% in the past 24 hours, after a hack of Fantom's Multichain bridge resulted in a loss of cryptocurrencies worth upwards of $126 million.

06.07 / 23:29

Dogecoin Blockchain Ethereum defi Hackers hacks Multichain Exploit Multichain MPC bridge sees $100M+ outflows, sparking fears of exploit

Abnormally large outflows from the Multichain MPC bridge platform on July 6 have sparked fears that an exploit could be underway. Over $102 million worth of crypto has been withdrawn from Multichain’s Fantom bridge on the Ethereum side, as well as $666,000 from Dogechain and $5 million from Moonriver.

06.07 / 15:11

business Blockchain Ethereum Adoption Multichain zk What is the ZK industry up to? Rollups, multichain bridges and VCs

Zero-knowledge proofs (ZK-proofs) are a key technology explored by many in the crypto industry. A zero-knowledge protocol is a cryptographic method that allows one party to prove to another party that something is true without revealing any information.

05.07 / 12:21

Ethereum Binance Platform Action Assurant Multichain Binance Halts Transfers of Multichain-Linked Tokens Following May Incident – Here's the Latest

Starting July 7, 2023, Binance will cease to facilitate deposits and withdrawals of several cross-chain bridge tokens associated with the Multichain project across specified networks.

05.07 / 11:53

business Blockchain Binance Tokens Withdrawals Multichain Support Binance ceases support for deposits and withdrawals of suspended Multichain-bridged tokens

Binance cryptocurrency exchange has announced it is ceasing its support of deposit and withdrawal services for a range of Multichain-bridged tokens, effective from July 7, 2023.

01.06 / 18:21

Blockchain Multichain Gate.io Clamps Down on Rumors Following Twitter Upheaval Over Multichain

Cryptocurrency exchange Gate.io disputed rumors of insolvency after tweets were sent alleging a connection between it and Multichain.

31.05 / 22:17

business Blockchain Liquidity Fraud Multichain Gate.io denies liquidity problems after Multichain CEO goes missing

Centralized crypto exchange Gate.io denied rumors of illiquidity on May 31, stating that “there are no issues with our operations or withdrawals as rumored.” The statement comes after numerous Twitter channels had alleged that the exchange was experiencing insolvency due to an alleged connection between it and the cross-chain router protocol Multichain (MULTI).

31.05 / 19:55

business Blockchain defi Multichain Multichain team cannot locate CEO, halts service for affected chains

Cross-chain protocol Multichain revealed on May 31 that its team has been unable to contact its CEO, Zhaojun, fueling rumors that the protocol’s leadership may have been arrested in China amid ongoing technical issues.

26.05 / 15:29

business Binance defi Tokens Suspends Multichain Binance suspends deposits for bridged tokens, seeks clarity from Multichain team

Crypto exchange Binance suspended deposits for 10 bridged tokens on May 25 following days of stuck transactions that sparked uncertainty surrounding the Multichain protocol.

26.05 / 11:05

Blockchain Ethereum Binance Polygon Legal Police Multichain Multichain Daily Bridging Volume Sees 5x Increase After Alleged Team Arrest, Barely Any Panic for Fantom

Rumors have been spreading throughout the cryptoverse that the major blockchain bridge Multichain team has been arrested by the Chinese police - with the shockwaves hitting the Fantom (FTM) ecosystem softer than expected.

27.04 / 14:29

Ethereum Adoption solana Multichain Phantom Wallet CEO explains why wallets must move to be multichain

Wallets have always been a key topic in the cryptocurrency industry because of their essential role in adoption. As the crypto world evolves and enters the multichain phase, wallets may need to operate differently. In Episode 16 of Hashing It Out, Phantom Wallet CEO Brandon Millman joins Elisha Owusu Akyaw to discuss how wallets are adapting to the cryptocurrency space’s multichain nature. Millman also shares his thoughts on airdrops for wallet applications, regulations and what a multichain landscape means for adoption.

19.04 / 13:17

Blockchain defi Trading Liquidity Tokens Multichain Connecting DeFi: How multichain token systems can improve liquidity

Digital assets are typically restricted to their native blockchain networks, and existing methods of transferring tokens from one blockchain network to another are highly vulnerable to hacking or involve using a trusted third party.

29.03 / 11:23

Blockchain Technology Adoption security transactions Multichain Beyond bridges: A look at the next generation of multichain communication

Achieving seamless interaction between different Layer-1 networks is critical to realizing the full potential of blockchain solutions and accelerating global adoption. However, the decentralized nature of blockchain creates complex hurdles, making it difficult to overcome silos.

22.03 / 16:41

business Blockchain wallet Multichain valuation Multichain wallet BitKeep raises $30M at $300M valuation

On Mar. 22, cryptocurrency derivatives exchange Bitget announced a $30 million investment into multi-chain wallet BitKeep at a $300 million valuation. The deal will see Bitget become the controlling shareholder of BitKeep and allow the latter to "access to the exchange's proven technology and security capabilities in the exchange domain, thus helping it improve the stability and security of its services." Gracy Chen, managing director at Bitget, commented:

14.02 / 17:33

Blockchain Ethereum Digital BitPanda Oracle Cronos Backed Multichain Bitpanda-backed Pantos Launches Public Beta of Its Multichain Token System

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

11.02 / 17:27

business Technology defi Decentralized Exchange Decentralization Multichain Multichain DEXs are on the rise with new protocols enabling them

Decentralized exchanges (DEXs) have become increasingly popular in recent years due to their ability to offer users a high degree of control over their assets and a more secure trading environment than centralized exchanges.

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