After a month-long battle with continuous exploitation, the Multichain Router Protocol announced that nearly 50% of all stolen funds worth approximately $ 2.6 million in cryptocurrencies were returned. The team also issued a compensation plan to compensate users for losses.
On January 10, blockchain security expert Dedaub Multichain warned of vulnerabilities in the pool of liquidity and router contracts affecting eight cryptocurrencies, including encapsulated ETH (WETH), encapsulated BNB (WBNB), Polygon (MATIC) and Avalanche (AVAX). ) wrapped.
One week later, on January 18, the Multichain team advised users to opt out of vulnerable smart contracts as a means of immediate treatment. However, as the Cointelegraph reported, the warning prompted several hackers to attempt exploitation, resulting in more than $ 3 million in losses.
According to Multichain, the weakness of the liquidity pool was fixed by increasing the liquidity of the affected tokens in new contracts by adding:
“However, there is still a risk for users who have not yet revoked consent for affected router contracts. It is important to note that revocation of consent is up to the users themselves.”
Number of attacks per day. SourceDune Analytics
As of February 18, Multichain reported that 4,861 of the 7,962 affected users had withdrawn their consent, with the remaining 3,101 addresses recommending taking action as soon as possible. Of the 1,889,666 WETH and 833,4191 AVAX funds stolen, the team managed to recover 912,798 WETH and 125 AVAX (valued at $ 2.55 million and $ 10,000, respectively).
“Despite our best efforts, a total of 976,86828 WETHs were stolen,” Multichain confirmed. In order to be entitled to compensation for damages, Multichain has demanded that users withdraw their consent and submit a claim on the website. “Therefore, we will not make up for losses that occurred after 24.00 UTC on 18 February.”
Related: Netflix announces new Bitfinex Hack series involving 120,000 Bitcoin
Netflix will soon produce and release a series of documentaries focusing on the New York couple and their involvement in the Bitcoin (BTC) money laundering operation linked to the Bitfinex hack.
According to the Cointelegraph, the documentary will be directed by the American director Chris Smith with Nick Bilton as co-executive producer. Ad text:
“Netflix has commissioned a documentary series about the couple’s alleged plan to launder billions of dollars in stolen cryptocurrency in the biggest economic crime case in history.”