$63 million in USDC frozen by Circle following Multichain breach

USDC issuer Circle blacklisted three pockets addresses that obtained a big outflow of funds from the cross-chain bridge platform Multichain in its potential safety breach.

Safety agency PeckShield noted that about $63 million in USDC, a part of the belongings concerned within the alarming outflow, has been frozen.

The incident noticed $126 million price of crypto belongings mysteriously transferred from Multichain’s bridge deployments on Fantom, Moonriver and Dogechain to numerous third-party wallets.

Following the incident, Multichain tweeted from its official account, “The Multichain service has presently stopped, and all bridge transactions will stay caught on the supply chains. There isn’t a confirmed resumption time. Please chorus from utilizing the Multichain bridging service for now.”

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