Circle and Tether Freeze $65 Million Amid Ongoing Investigation into Multichain Exploit
Major stablecoin issuers, Circle and Tether, have frozen assets totaling over $65 million linked to a potential exploitation of the cross-chain router protocol, Multichain. The move is in response to the mysterious and significant outflows of more than $100M from the Multichain MPC bridge on July 6. As per 0xScope, the knowledge graph protocol, three recipient addresses, associated with at least $63.2 million in Circle’s USD Coin (USDC), are now under suspension. Concurrently, Fantom Foundation released a report confirming that Tether (USDT) also froze over $2.5 million from two addresses earmarked as “Multichain Suspicious Addresses” by Etherscan, a popular Ethereum