More Than $1.5 Million In Ethereum Is Missing From MultiChain Hack

More than $1.5 million in ETH is still missing from the Multichain hack after a vulnerability in the cross-chain router protocol drained $3 million from hackers as we are reading further in our latest Ethereum news.

The white-hat hacker returned 322 ethereum after an exploit drained Multichain users of more than $3 million worth of crypto this week and more than $1.5 million in Ethereum is still at large. Multichain is a cross-chain router protocol that connects users between thirty different blockchains like Etheruem, TErra, and Bitcoin. This week’s critical vulnerability seems to have affected six tokens ont the protocol like Peri Finance, OFficial MArs Token WRapped BNB, wrapped ETH, Polygon, and AVAX. Multichain announced that the problem has been fixed and reported.

More attackers swooped in after the announcement and were able to exploit the protocol via the same vulnerability with one hacker stealing up to $1.4 million. In the crypto spaces, the criticial vulnerabilities are not just exploited by criminals for self-interest motives and they draw the attention of blockchain vigilantes called white hat hackers who exploit vulnerabilities to report them and to collect a bounty.​​

As recently reported, Cryptocurrency exchange Crypto.com suffered a hack attack with at least $15 million worth of ETH stolen. Despite the reports of missing funds, the platform has yet to confirm that it has indeed been an attack. With almost $3 billion in trading volume in the past day, Crypto.com is the fourth biggest centralized crypto exchange according to Coingecko. The events took a turn for the worse when the Peckshiled security company announced on Twitter that the exchange lost about 4600 ETH or around $15 million in current prices. Peckshield added that half of the stolen funds were sent to Tornado Cash, the well-known mixing service. Peckshiled said that the true scale of the damage is quite worse actually. A few hours later, Crypto.com CEO Kris Marszalek said that no customer funds were lost.

CityDao as the experiment into the decentralized land ownership became a victim to a $95,000 hack by fraudsters on the messaging site Discord. The attacker hacked one of the project’s admin accounts on Discord as per the group’s Twitter account. CityDAO falls victim to a hack as the founders purchased 40 acres of land in Wyoming in November with the intention of creating a blockchain city. The project’s aim is to build a city with decentralized governance where people can buy land in the form of NFTs and CityDAO uses Discord to issue alerts known as the land drops where there are enough opportunities to buy NFTs.