Incident All ledgers
Multichain: $126.0m
Multichain lost $126.0m on 7 July 2023. Ranked 35th of 1,272 crypto failures, with method, returned funds and comparable incidents.
- Date
- 7 July 2023
- Lost
- $126.0m
- Returned or repaid
- None recorded
- Target
- DeFi Protocol
- Category
- Key Compromise
- Method
- Validator Key Compromised
- Chains
- Moonriver, BSC, Fantom
About $126M in assets such as WBTC, WETH and stablecoins was drained from Multichain's bridge reserves on Fantom, Moonriver and Dogechain on July 6-7, 2023. Its CEO, who held the MPC signing keys, had been detained since May 2023, and the project closed days later.
Against the ledger
- It ranks 35th of the 1,272 incidents with a known loss, and 4th in 2023.
- It accounts for 41.4% of the $304.1m in known losses in July 2023.
- 153 incidents in the ledger are classified as Key Compromise, for $8.96bn in total. This one is 1.4% of that.
- The ledger records no returned funds.
Other incidents named Multichain
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 10 Jul 2021 | Multichain | $7.9m | CEX | Weak Key Generation | — |
| 18 Jan 2022 | Multichain | $1.4m | DeFi Protocol | Missing Input Validation | — |
| 15 Feb 2023 | Multichain | $130,000 | DeFi Protocol | Signature Verification Flaw | — |
Closest in size by the same method
| Date | Target | Lost | Type | Method | Returned |
|---|---|---|---|---|---|
| 13 Dec 2021 | Vulcan Forged | $140.0m | DeFi Protocol | Hot Wallet Key Compromised | — |
| 30 Oct 2021 | BXH | $139.0m | DeFi Protocol | Private Key Compromised | — |
| 31 Jul 2026 | COLDCARD | $116.0m | Wallet | Weak Key Generation | — |
| 23 Jun 2022 | Harmony Bridge | $100.0m | DeFi Protocol | Validator Key Compromised | — |
| 19 Aug 2021 | Liquid Global | $91.3m | CEX | Hot Wallet Key Compromised | — |
All failures in 2023 · The failures ledger
Amounts are DefiLlama’s estimates and can change as incidents are revalued. Its returned figure can include money a company repaid itself, not only funds recovered from attackers. Source: DefiLlama.
Cite this Bitminer.io, “Multichain, failures ledger”, data to 2 November 2026, https://bitminer.io/ledger/incident/multichain-2023-07-07/. How this is built