New Huo Technology researcher and former researcher at China's National Think Tank, 0xLoki, stated on Twitter, "The abnormal fund flow in Multichain has the following four characteristics:
- The duration of asset transfer is long, indicating that the transferor is not in a hurry.
- A small test of 2 USDC was conducted before the asset transfer, indicating that the transferor has sustainable transfer capabilities.
- Each type of asset is transferred to an independent wallet, and there is no further action afterwards (such as transferring to an exchange, swap, or mixing).
- The receiving wallet is completely clean, with no gas.
Based on these infromation: 1. The transferor has sufficient time, considering the technical characteristics of MPC (Multi-Party Computation), it is highly likely that the transferor has obtained complete control over the private key shards beyond the threshold in some way. 2. The 'attack method' is very simple, just a simple transfer operation, without any contracts or tests, indicating that the attacker is likely not a hacker. 3. The transferor did not further dispose or cash out, suggesting that the operator may not have absolute decision-making power."
Based on the above observations, 0xLoki speculates that it seems like the complete control over the contract was lost due to some force majeure, rather than a simple attack.
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Security Incidents
Cross-Chain
