Blockchain data reveals that stablecoin companies Circle and Tether have frozen coins linked to the recent multi-million dollar Multichain exploit.
Earlier this week, blockchain security firm PeckShield discovered that Multichain, a cross-chain crypto platform, saw its Fantom (FTM) bridge hacked into $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 publisher Circle frozen the three wallet addresses associated with the exploit, which together hold a whopping $63.2 million worth of USD Coin.
“Three Multichain hacker addresses (0x027F / 0xefEe / 0x48Be) have been frozen by Circle. These addresses contain a total of $65 million in assets, including $63.2 million USDC, which are now frozen.
USDT issuer Tether also provides a duo of addresses, according to the Fantom Foundation associated with the hack the same treatment.
“Tether has blocked these accounts [over] 2.5 million USDT on Ethereum transferred from Multichain… Thank you Tether and the team for a quick response.”
Following the hack, PeckShield said the exploit ranked sixth on its “cross-chain bridge exploit leaderboard” and noted that just under $2 billion in digital assets have been stolen from cross-chain bridge bridges in the past three years. .
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