News Explorer — Chainalysis Suggests Multichain Exploit an Inside Job or Rug Pull

Cointelegraph

Chainalysis Suggests Multichain Exploit an Inside Job or Rug Pull

Blockchain security firm Chainalysis suggests that the multimillion dollar exploit of cross-chain bridge protocol Multichain may have been an inside job or rug pull. The firm believes that the administrator keys of Multichain's smart contracts may have been compromised, allowing the attacker to make unauthorized withdrawals. Recent issues faced by Multichain, such as the disappearance of its CEO and technical problems, further support the possibility of an internal involvement in the exploit.