multichain

According to market news, a user successfully withdrew $85,740 USDC through the Rabby feature, after the funds had been frozen due to the Multichain incident.Rabby allows users to track and withdraw leftover assets from DeFi protocols, even if the original front end has become inactive. It is understood that in May 2025, the Singapore High Court approved the liquidation application of the Multichain Foundation and appointed KPMG as the joint liquidator. As the liquidation progresses, some previously frozen or locked funds are gradually becoming available for withdrawal, especially assets that were not transferred by hackers or released after being seized by law enforcement.In addition, a U.S. court has temporarily extended the freeze on approximately $63 million in stolen USDC related wallets to assist the Singapore liquidators in identifying and recovering the assets. Affected Multichain users can check their wallet balances and attempt to withdraw funds through Rabby.

ChainCatcher news, Sonic (formerly Fantom) co-founder Andre Cronje stated that the team has invested over $7 million to help victims of the Multichain incident recover their assets, with more than $5 million allocated to legal-related expenses. The foundation has recently added an additional $2 million to the funding agreement to continue advancing related work in the United States and China.

ChainCatcher message: According to the tracking data from the Web3 asset data platform RootData X, in the past 7 days, the cross-chain router protocol Multichain has been the project that top figures on X (Twitter) have unfollowed the most. The newly unfollowed influential figure from X includes Rainy Sleep (@0xSleepinRain).

ChainCatcher news, according to Protos, the cross-chain DeFi project Chainge launched by Multichain founder DJ Qian has encountered issues where some users are unable to withdraw their funds, a situation that has persisted for months. A large number of complaints are focused on the wKAS cross-chain bridge, with the official attributing the problem to individual "malicious users" causing a lack of liquidity.Despite the team's previous multiple commitments to inject liquidity to restore functionality, the issue has still not been fully resolved, and the wKAS token has shown significant decoupling. The Chainge front-end service remains open, and the related risks have drawn market attention.

ChainCatcher news, the Singapore High Court ruled in favor of Sonic Labs' motion to force the Multichain Foundation into liquidation to recover the funds stolen during the 2023 hack.Sonic Labs CEO Michael Kong stated in a post on X on May 14 that the team behind Sonic felt they had no choice but to file a lawsuit to shut down Multichain, as its former employees were "completely uncooperative."

ChainCatcher message, according to the popularity index ranking data from the Web3 asset data platform RootData, as of October 5th, 10:00, the top five projects in the Web3 popular projects Top 100 are: Diamante Net, vana, Sui, Sonic, WukongX.In addition, MultichainZ has seen the largest ranking increase, rising 764 places overall.It is reported that RootData has launched the first "Web3 Popular Projects Ranking". This popularity ranking helps users capture the real pulse of attention and improve the accuracy of investment decisions through 4.3 million real user behavior data. The ranking is calculated in real-time based on the weighted values of search frequency, project clicks, user votes, and the popularity and influence on the X platform among platform users.

ChainCatcher news, the Singapore High Court ruled that Multichain Foundation must compensate the Fantom Foundation $2,187,870.55.Previously, Multichain was found in default on January 30, and a damages hearing was held on June 3. The Fantom Foundation aims to push for the liquidation of Multichain through litigation, with the court appointing a liquidator to help recover and distribute assets. Attorney Nicolas Tang stated that this ruling is a significant victory for clients and the crypto community, reinforcing the legal status of digital assets.

ChainCatcher news, according to Cointelegraph, the decentralized autonomous organization HectorDAO has filed for Chapter 15 bankruptcy protection in the United States. The main reasons for its bankruptcy include the collapse of the Terra ecosystem in 2022, the downfall of the Multichain protocol, and the hacking of the Hector treasury. Interpath Advisory has been appointed by the court to investigate whether any former management executed internal attacks.Chapter 15 bankruptcy allows foreign entities with international investors to file for bankruptcy in the U.S. judicial system.

ChainCatcher news, the Fantom Foundation tweeted that after all attempts to contact former directors and key personnel of the Multichain Foundation have failed, the Fantom Foundation has filed a lawsuit against the Multichain Foundation for breach of contract and fraudulent misrepresentation, seeking compensation for the losses suffered by the foundation. On January 30, 2024 (effective from November 30, 2023), a judge of the Singapore High Court's Common Law Division made a favorable default judgment for the foundation.In the coming months, the Singapore court will quantify the losses suffered by the Fantom Foundation. Once the losses are assessed, the foundation will issue a statutory demand to Multichain for payment of the amount assessed by the court. Given Multichain's long-term absence, this is not expected to occur, at which point the foundation will apply to the court for the liquidation of the Multichain Foundation and the appointment of a liquidator. The liquidator will also be authorized by the court to assist in recovering community assets on behalf of the Multichain Foundation, including approximately $65 million worth of frozen stablecoins.

ChainCatcher news, according to Cyvers Alerts' post on social media X, the Multichain (formerly Anyswap) hacker has deposited 100 ETH (approximately $297,200) into Tornado.cash. The attacker still holds $1.12 million in DAI.

ChainCacther news, according to the official announcement, the Bitcoin on-chain indexing layer two R RoochNetwork has reached a partnership with the cross-chain bridge protocol Meson. Rooch recently announced that it will soon launch the testnet RoochBTC. The RoochBTC network will index the complete state of the Bitcoin mainnet on-chain, as well as the necessary content for developing full-chain applications using Bitcoin assets, including SDKs, wallet APIs, documentation, and examples. At that time, the RoochBTC chain will integrate Meson cross-chain swaps.

ChainCatcher news, the official X account of Multichain stated that former Multichain engineers have launched a new cross-chain project called ValueRouter. ValueRouter supports cross-chain asset transactions between Ethereum, Avalanche, Op Mainnet, and Arbitrum through the Circle Cross-Chain Transfer Protocol (CCTP) and the ValueRouter relayer.

ChainCatcher message, Coinbase Assets announced on social media that due to recent reviews, BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (Ooki), and Voyager (VGX) will be delisted around 0:00 Beijing time on September 7, 2023.At that time, trading of the above 6 tokens will be halted on Coinbase.com, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

ChainCatcher message, the Fantom ecosystem project SpiritSwap announced within the community that due to the Multichain incident leading to financial exhaustion, the project no longer has funds to support daily operations.Currently, SpiritSwap is looking for a new team to take over the project. If no potential team is found, SpiritSwap will cease operations on September 1, and users need to withdraw their liquidity before that date.

ChainCatcher news, according to Spot On Chain monitoring, Multichain attackers sold stolen assets worth $36.7 million in the past week, including WBTC, LINK, CRV, YFI, and WOOO. Previously, they exchanged YFI, CRV, LINK, and WOOO for 1,443.5 ETH, and exchanged WBTC for 29 million USDT and 433.2 ETH.

ChainCatcher news, according to blockchain data analysis company Bitrace, the address marked as Multichain Suspicious Address 4 has transferred 1023.8 WBTC, approximately 29.69 million USD, to an address starting with 0x3c74, which then exchanged this asset for stablecoins and transferred it.Bitrace believes that this asset has been transferred to several redemption service providers, and after a large amount of funds were liquidated, they flowed back to exchanges. The outflow of funds is associated with the rumored FTX bribery funds, and it is inferred that Multichain funds have been confiscated, with the case entering the asset disposal process. More funds may further flow out and be liquidated in the future.