Trader exploits Multichain opening to turn $280k to $1.9M; community suspects insider job
The momentary opening of the frozen bridge raised suspicion of it being an insider job as the trader in question was the only beneficiary. A wallet address turned nearly 1.9 million FTM worth $280,000 to $1.9 million within hours of exploit ing the long-frozen Multichain Bridge opening momentarily, leading to insider job speculations among the crypto community . The Multichain Bridge, frozen since its exploit in July 2023, opened momentarily and closed again on Nov. 1. The wallet seized the opportunity of the momentarily opened bridge to make millions of dollars in profits. looks like someone was able to drain ~$1MM from @MultichainOrg in the last ~3 hours even though it's supposed to be frozen withdrew 1.2MM $FTM from binance on @FantomFDN traded for multichain WBTC/ETH/USDT bridged out and deposited back to binancehttps://t.co/pP5GluGUH1 pic.twitter.com/AbUJVQBmds — devops199fan ⌐◨-◨ (@devops199fan) November 1, 2023 Several depegged assets, such as WBTC, cost less on ...