Multichain token hack losses reach $3 million: report

A vulnerability in Multichain systems has led to the theft of at least $3 million, reports suggest. 

Multichain, previously known as Anyswap, is a cross-blockchain router protocol designed to allow users to swap and exchange digital tokens across chains while reducing fees and streamlining the overall process. 

However, chaos now reigns in the ecosystem due to a cybersecurity incident caused by a vulnerability in the network, as first reported by Vice

Dedaub reported the vulnerability to Multichain. The company said in a blog post dated January 17 that the critical flaw impacted WETH, PERI, OMT, WBNB, MATIC, and AVAX swaps, but assured users at the time that “all assets on both V2 Bridge and V3 Router are safe [and] all cross-chain transactions can be done safely as usual.”

In the same breath, the company urged users to log in to their accounts and remove any approvals relating to these tokens as quickly as possible or funds could be at risk. 

Technical details of the vulnerability are yet to be disclosed. 

On Wednesday, Multichain said that users who had not revoked WETH approval had been exploited. 

“Please do not transfer any of these six tokens to your accounts before

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