- The companies blacklisted 5 addresses
- Circle froze 3 accounts and Tether froze 2
- But the hacker still has access to some assets
Stablecoin companies Circle and Tether have frozen over $65 million in assets that may be linked to a possible hack on the Multichain inter-network router.
On July 6, assets totaling more than $125 million were removed from several wallets, affecting Multichain’s Fantom network as well as the Dogechain, Moonriver, Kava and Conflux ecosystems. The reason for this unpredictable transfer of assets remains unknown.
Circle has since frozen three accounts that held stolen assets totaling $65 million.. At the same time, Tether, which issues USDT Stablecoins, froze two accounts that held 2.53 million USDT.
Also, Daniele Sestagalli of the crypto project ICE said the protocol plans to burn its $1.85 million in stolen ICE tokens that were the result of the Multichain hack. He added that Fantom Multichain users will be compensated by receiving WAGMI tokens in the form of airdrop instead of the burned ICE tokens.
Despite the blacklisting and burning of tokens, the attacker likely still has access to over $56 million in stolen asset balances.
As of this writing, Multichain Router is still down, with no recovery time confirmed.