$55,000,000 hack happening rn on Multichain

[Anonymous No.55485233]

>https://twitter.com/peckshield/status/1677031203772289030

Hack totaling ~$55,000,000. Opening a short here.

[Anonymous No.55485242]

what is multichain and why should I care

[Anonymous No.55485251]

>>55485242
because they stoles tens of millions in BTC/ETH and millions in LINK

[Anonymous No.55485280]

Bridges always get hacked. Never wrap your btc btw

[Anonymous No.55485402]

>>55485251
>millions in LINK
based hacker

[Anonymous No.55485420]

Ari is ruthless.

[Anonymous No.55485690]

>>55485242
how fucking new are you to this space, jesus summerfag

[Anonymous No.55486083]

>>55485233
future of finance

[Anonymous No.55486090]

where did all the money even come from to begin with?

[Anonymous No.55486296]

[Paige Hill No.55486330]

>>55485233
AVAX chads win again

[Anonymous No.55486357]

is it connected with their CEO having been arrested by the Chinese?

[Anonymous No.55486417]

>>55485233
That's one way to cash out for "devs"

[Anonymous No.55486486]

>>55485233
Is that a CCIP competitor getting destroyed?
Weird

[Anonymous No.55486504]

ccip is close

[Anonymous No.55486560]

I do worry about the harm it causes crypto overall when protocols are exploited.

Some people will see DeFi getting exploited and assume all of Crypto cannot be trusted.

But then again, you can't make an omelette without breaking a few eggs.

[Anonymous No.55486575]

>>55485233
Based Ari at it again
Godspeed you beautiful jew

[Anonymous No.55487211]

>>55485280
This.
Wrapping btc, holy fucking kek.

[Anonymous No.55487236]

>sir gay is so LINK poor he has to ask ari to hack bridges to get more LINK to dump
who is buying these dumps

[Anonymous No.55487240]

>>55485242
>30 posters left on /biz/
>half of them don't even know anything about blockchain
why

[Anonymous No.55487266]

oops!

[Anonymous No.55487267]

>>55485242
Multichain is a popular cross chain bridge for moving assets from one blockchain to another.

If you didn't know that, there really isn't much reason you should care.

[Anonymous No.55487273]

Sorry bud, there can only be one protocol

[Anonymous No.55487296]

>>55486560
The whole point is that it's supposed to be that it can't get exploited. If it gets hacked or exploited then that means it didn't live up to its promise.

CCIP is the solution. It cannot be hacked and doesn't rely on the cheap fixes that these shitty bridges use.

[Anonymous No.55487298]

Newfag here..
So i shouldn't wrap my eferiums on my metamask? What is the safest stablecoin USDT or USDC?

[Anonymous No.55487305]

>>55485280
This hack is because of the multichain team getting gulag'd in China and some corrupt agent of the state getting the "multisig" keys (probably 3 of 5 all the same guy named Chang). Or something equally ridiculous. Never trust Chinks.

[Anonymous No.55487315]

>>55487296
well hodl on there bro some protocols might like to appear unhackable but get hacked when they need to cash out so they can blame it on these imaginary hackers that seem to be motivated into stealing worthless tokens not needed like eth link btc
also its tax time and some protocols might need to offset their tax and a hack is a perfect way to do that
if they cant blame it on some imaginary enemy what can you blame it on?

[Anonymous No.55487323]

First it was Celsius selling their LINK and now this. How low are we going this time?

[Anonymous No.55487430]

He can't keep getting away with it

[Anonymous No.55487436]

>>55486357
I don't know, but apparently their CEO has been "missing" for a month now so this is kind of spicy now. But I don't get why the CEO would have access to these funds lol

[Anonymous No.55487475]

>>55486504
Dead meme by sunk cost left behinds

[Anonymous No.55487481]

>>55487436
because he's the ceo bro its like how vitalik has access to the entire eth foundation treasury to do with as he pleases like when he made shib to donate to terrorists for (((covid relief))) whatever that means lol. its just how crypto works

[Anonymous No.55487486]

>>55485233
(((hack)))

[Anonymous No.55487502]

vcs need to stop whinging like children and pay up
stop pivoting to AI and pay your oracle bill
first of the month oracle bill is due and dont you forget it
fatty gots to eat word up

[Anonymous No.55487520]

>>55485251
>millions in LINK
oh, not bad.

[Anonymous No.55487684]

>>55485233
>Opening a short here.
What are you shorting? No exchange has futures on MULTI

[Anonymous No.55488252]

>>55485233
great job sergey and ari. been telling people chainlink is a scam, hope someone listened.

[Anonymous No.55489800]

>>55485690
Been in crypto since 2015 and here since 2018 and i dont know what the hell it is

[Anonymous No.55489832]

Stables have repegged. However the funds that back then are in lala land at the moment. Everything hijacked moved to a different wallet but made no further moves. They are still sitting there. Multi investigating. Ftm has already made arrangement for another bridge. Wbtc still under peg on chain. Stables may depend again anytime. Fantom pulled out of multi with their Treasury funds when CEO disappeared. Confirmed by Michael Kong tonight and month old article interviewing Andre. If the funds are not recoverable I dont see how the stables can hold peg but the action so far is uncharacteristic of a hacker.

We are now just waiting for the multi team to fix their shit if possible.

[Anonymous No.55489847]

>on ETH Blockchain
Huh, why is it always ETH? Good thing I don't hold anything there. Seems weird it's always them, tho.

[Anonymous No.55489868]

>>55489832
this is why defi will never work.
you can't decentralise trust when any rando can control a critical part of your infrastructure

whatever remains from crypto will end up being just as centralised as tradfi. its already been happening with eth and btc for years.

[Anonymous No.55489874]

It possible that the hijacked funds can be frozen and reissued since eth is a coin of oppression. Just confirmed that coins are still just sitting there in a wallet.

[Anonymous No.55489876]

>>55489847
eth is the biggest piece of shit chain there is.
imagine having to pay 90% of your wallet in gas fees to bridge in a rush.
its the worst, will never touch it.

i'm sure more people have roped from eth than luna

[Anonymous No.55489886]

>>55489868
Why would anyone leave any funds in multi after the CEO disappeared with admin access that he alone had? That's a bit of a red flag. Multi should have been drained immediately and other arrangements made

[Anonymous No.55489889]

>>55486486
Who could be behind this??

[Anonymous No.55489913]

>>55489847
Bad smart contract code is to blame, not the chain it's on. It could've been any other EVM chain but Ethereum just happens to be the biggest one with most projects and liquidity so obviously most hacks will happen there.

[Anonymous No.55490717]

>>55489868
Every legit defi project can't just be drained. This is a more an issue with bridges where there is something off chain that the contract is relying on.

[Anonymous No.55491782]

>>55489889
The Jews
but unironically

[Anonymous No.55491808]

When will people learn to just not use bridges and stay on native Ethereum instead.

[Anonymous No.55491906]

I was reading some articles on this and one of the addresses involved is this one:
etherscan.io/address/0x9d5765ae1c95c21d4cc3b1d5bba71bad3b012b68#tokentxns

You can see that they had over a million tokens of something called ICE and they sent them all to the null address. Why did they do that? They could have easily dumped them all on uniswap or something. An even better question is, why they did leave exactly 1 token in the wallet? They sent all of the tokens to the burn address and they kept exactly 1. Just... why?

[Anonymous No.55491960]

>>55491906
Popsicle finance token, one of the first to launch on chain. No idea why they are making these mysterious moves. It's weird. Stables have depegged again, people are accusing the foundation of trying to shore them up with liquidity from the treasury. It seems that people are fleeing the chain, transaction gas is insanely high.

[Anonymous No.55491971]

>>55491906
ICE protocol said on twitter that they burned all the tokens they had related to multichain

[Anonymous No.55491979]

Is this bullish for link?

[Anonymous No.55491985]

>>55491971
ICEdev has always been a solid guy.

[Anonymous No.55492845]

>>55486296

[Anonymous No.55493174]

>>55491808
Because it doesn't scale natively and L2s still need to be bridged to.
Even Arbitrum had a critical bug patched that apparently could have resulted in xxx,xxx ETH drained...

[Anonymous No.55493249]

>>55493174
You don't need to use bridges to transfer funds to and from L2s like Arbitrum. There are native deposit/withdrawal methods. Sure, they could still have bugs like any piece of software, but the stakes are far lower than traditional cross-chain bridges that have to store all bridged funds indefinitely until they are bridged back.

>Even Arbitrum had a critical bug patched that apparently could have resulted in xxx,xxx ETH drained...
I can't find anything about of this magnitude, can you post a link?

[Anonymous No.55493383]

>>55489832
nothing has repegged, all multichain bridged assets are seriously under the peg.

[Anonymous No.55493434]

>>55491906
Look at the fucking tx, it was from georgiyxo.eth, not the hacker, its whoever that guy is freezing/burning the hacker's tokens.

[Anonymous No.55493517]

>>55493249
It's a bit different with escape hatches and fraud proofs and whatnot. An improvement, but probably oversold a bit given how centralized the L2s seem to be so far.

https://medium.com/@0xriptide/hackers-in-arbitrums-inbox-ca23272641a2
I was going off memory I'd have to read it again but it was probably not as cut-and-dry as a full drain of everything. But it was 'critical' level for sure.
I remember people complaining that he only got 400 eth when six figures of eth was potentially 'at risk' or whatever.
I actually do remember Alameda bridging over six figures of eth to farm arbinyan though lol. So even if it is just something like 'snipe all despots after the exploit' technically someone could have waiting for a big tx like that and front run it and deploy their shit via flashbots or whatever.

[Anonymous No.55493794]

>>55485280
You're right chad. It's best to not even put your money in bridges, best to use decentralized wallets far from the reach of hackers.

[Anonymous No.55493935]

>>55491985
dani? lol

[Anonymous No.55493999]

>>55486560
That's why having a reliable network like Peaq is key. It's all about prioritizing security, decentralization, and scalability. It's designed to provide a solid foundation for building dapps.

[Anonymous No.55494164]

>>55491979
Nope but it is bullish for xrp

[Anonymous No.55494188]

>>55494164
> xrp
> 2023
TOP FUCKING KEK!!!
keks

[Anonymous No.55494252]

>>55485233
>rn
Go back to tiktok, zoomer.

[Anonymous No.55494269]

>>55485233
Smart, if you know what you are doing then having a bot that automatically makes these kind of transactions for you. Blackswan is such a program. It currently runs on Linux and Windows. Phase 4 will have a user-friendly way of interacting with the bot.

[Anonymous No.55494283]

>>55485690
I buy Bitcoin and Monero and that's it. Sorry your proof-of-shit AIDS extravaganza blockchain widget got hacked for the ten thousandth time, but I don't care.

[Anonymous No.55494317]

>>55494269
what am i looking at

[Anonymous No.55494431]

>>55493794
Decentralized wallets like Wasabi and Sylo where I have full custody of my assets, and can send them anonymously to any blockchain have been my best bet

[Anonymous No.55494442]

>>55494431
Kill yourself currynigger

[Anonymous No.55494608]

>>55494317
Blackswan Bot working on Windows 10. More info at blackswan dot biz

[Anonymous No.55495208]

>>55485233
Does ETH only exist to scam people?

[Anonymous No.55495252]

>>55485233
But cz said the block turd is hack proof

[Anonymous No.55495313]

isnt multichain owned by the fantom foundation

[Anonymous No.55496700]

>>55487520
What's the make-it stack anon? Maybe I could add it to my Egld and Ride stash for based profits when the bulls return.

[Anonymous No.55496875]

>>55493794
That's why we gotta embrace on-chain privacy, man. Bridges with L2 can seriously screw things over, messing up the entire damn ecosystem. They're hella detrimental, anon.

[Anonymous No.55497834]

>>55493383
But WILL the stables probably repeg? Was thinking of buying some after they finish dumping, probably in few days.

[Anonymous No.55498269]

>>55493999
is it really secured? they even not secured parachain

[Anonymous No.55498643]

>>55497834
Not without assets on the other end backing them up.

[Anonymous No.55499669]

>>55498269
You better DYOR that anon. But let me tell ya, their network's got some wicked promising features that got me all hyped up. They're straight up leading the pack in the last auction with nearly a thousand contributors backing 'em up. So let's not lose hope just yet.

[Anonymous No.55499840]

>>55485690
Been here since 2014, I've never heard of it. Probably because I'm not living in squalor and desperate for a 1000x. I only fuck with bitcoin, I only self custody.

Most of you will do the same...eventually.

[Anonymous No.55500656]

>>55499669
No doubts anon. Blockchains like Polkadot and Kusama are already involved and I see it getting better from here.