Another $117 million worth of assets moved from the Multichain platform


In the last 23 hours, there has been another round of outflow from Multichain.

There has been another set of abnormal outflows from the Multichain platform. Data available from DeBank shows that approximately $117 million worth of assets were moved to an unidentified address, 0x1eed63efba5f81d95bfe37d82c8e736b974f477b. This is barely three days after a similar “abnormal” movement of funds from the platform.

The details of the outflows

From the Fantom network, 11.91 million DAI, 13,146 ETH, 10.1 million USDC, 64 million USDT, and 52 BTC were moved. From the Arbitrum network, 2,891 wETH, 8.7 million USDC, and 7.5 wBTC were moved. From the BNB Chain, 209,000 USDC and 50.8 BTCB

Funds moved from the Avalanche network are 2.38 million DAI, 33.76 wBTC.e, 667.4 wETH, 9 million USDC, and 616,000 DAI.

The blockchain tracking platform also showed that the Cronos network experienced an outflow of 9,950 USDC, 5,582 wETH and 7.05 wBTC. Another network that had fund outflows was Polygon, from which 237,600 USDC were moved.

37,000 USC were moved from Moonbeam, while 21.91 wBTC and 10.36 million DAI were moved from Optimism. There was also an outflow of 15,000 DAI from the Ethereum network.

A previous abnormal movement

On July 7, Multichain halted its service and asked those with active contracts on the platform to revoke them. The Multichain team earlier announced on the same day that $126 million in locked up asset in its MPC address were abnormally moved to an unknown address. The bridging service said that it is investigating what happened and hasn’t given an update prior to the recent abnormal move of funds.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative reviews.