A bug in the Multichain protocol has been exploited for $1.5 million

According to ZenGo co-founder Tal Be’ery, the ongoing exploitation of the cross-chain protocol Multichain has now totaled $1.5 million.

Hacker steals $200,000 through Multichain bug, offers to return 80% to victim

A bug in the protocol is being exploited by multiple blockchain wallets, with one or more hackers behind the attacks. One of the hackers, who stole $200,000 through this bug, offered some regrets. They claim to be a white hacker and have offered to return 80% of the money they took.

This hacker said in a blockchain transaction, “whitehat here, send me the tx you lost your weth, and I give 80% back. The rest is the tips for me saving your money.” Multichain has since replied to the hacker, hoping to return the funds to a blockchain address that they specified in the message.

It’s unclear if this particular hacker was behind any other thefts. When asked if the hacker owns the wallet that stole $1.43 million through this exploit, Multichain said it’s entirely possible. Be’ery said, “Cannot really know.”

Multichain is a cross-chain protocol for exchanging tokens between blockchains. The project itself first revealed the existence of the Multichain bug on January 17. Although the project says it has fixed the bug, affecting six tokens, including wrapped ether (WETH), it still affects previous protocol users.

Anyone who has used the protocol before needs to revoke the app permissions to keep their funds safe from this particular attack. Despite Multichain’s warnings, many users failed to make it.

Yesterday, the Multichain team contacted the original address (which stole $1.43 million) via a message in a blockchain transaction. The announcement states that the project provides a bounty for the exploits, implying that the hacker should return the money and receive the bounty. So far, that message has not seen a direct response.

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