Stablecoin Issuers Circle and Tether Freeze Stablecoins Tied to Multichain Exploit: On-Chain Data
Blockchain data reveals that stablecoin firms Circle and Tether have frozen coins linked to the recent multi-million-dollar Multichain exploit.
Earlier this week, blockchain security firm PeckShield found that Multichain, a cross-chain crypto platform, saw its Fantom (FTM) bridge hacked to the tune of $126 million worth of digital assets.
The crypto assets stolen include Chainlink (LINK), Wrapped Bitcoin (wBTC), Wrapped Ethereum (wETH), as well as stablecoins Dai (DAI), USD Coin (USDC), and Tether (USDT).
According to on-chain data aggregator Scope Protocol, USDC issuer Circle has frozen the three wallet addresses linked to the exploit, which combine to hold a staggering $63.2 million worth of USD Coin.
“Three Multichain hacker addresses (0x027F / 0xefEe / 0x48Be) have been frozen by Circle. These addresses held a total of $65 million in assets, including $63.2 million USDC, which are now frozen.”
According to the Fantom Foundation, USDT issuer Tether is also giving a duo of addresses associated with the hack the same treatment.
“Tether has frozen these accounts with [over] 2.5 million USDT on Ethereum transferred from Multichain… Thank you Tether and the team for a quick response.”
After the hack, PeckShield said that the exploit ranked sixth on its “cross-chain bridge exploit leaderboard” and noted that just under $2 billion worth of digital assets have been stolen from cross-chain bridges during the last three years.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/JLStock
The post Stablecoin Issuers Circle and Tether Freeze Stablecoins Tied to Multichain Exploit: On-Chain Data appeared first on The Daily Hodl.
Go to Source
Author: Mehron Rokhy
