Bridge Incident Registry
Incident case

Multichain 2023 abnormal MPC asset outflows

In July 2023, more than $125 million in assets moved out of Multichain-controlled bridge contracts to unknown addresses. The protocol then stopped services and later announced that operations would cease after losing access to key operational systems and funds.

reviewedcurrent

Incident facts

Incident title
Multichain 2023 abnormal MPC asset outflows
Bridge
Multichain
Incident date
2023-07-06
Incident type
Abnormal Transfers
Major incident
Yes
Affected chains
Ethereum, Fantom, BNB Chain, Polygon, Avalanche, Arbitrum
Affected assets
WETH, WBTC, USDC, USDT
Attack category
Operator Or Governance Issue
Reported loss
More than $125 million in abnormal outflows
Recovery
Unknown
Reimbursement
Unknown
Restart
Not Reopened
Current outcome
Dead After Incident
Resolution
Unresolved
Last reviewed
2026-06-14
Last verified
2026-06-14

Timeline events

  • Abnormal Multichain asset outflows disclosed2023-07-06

    Multichain reported that assets controlled through its MPC system had moved abnormally to unknown addresses and advised users to suspend use of the service.

    Abnormal Transfers DisclosedHigh

  • Multichain service stopped indefinitely2023-07-07

    The team stated that Multichain service had stopped and bridge transactions would remain stuck on source chains, formalizing the operational suspension.

    Service SuspendedHigh

  • Multichain announced cessation of operations2023-07-14

    Multichain announced that it was forced to cease operations after losing access to operational systems and funds and after key personnel became unreachable.

    Operations CeasedHigh

Evidence records

Known unknowns