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Circle, Tether freezes over $65M in assets transferred from Multichain

Published 07/08/2023, 03:38 PM
Updated 07/09/2023, 05:40 PM

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.

According to the knowledge graph protocol 0xScope, three addresses that received at least $63.2 million in USD Coin (USDC) from Multichain are now frozen. Another report from the Fantom Foundation notes that more than $2.5 million in Tether (USDT) had also been frozen from two addresses listed by Etherscan as “Multichain Suspicious Addresses.“

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