MultiChain, a leading cross-chain router protocol (CRP) formerly known as Anyswap, enables interoperability for digital assets across major blockchains like Ethereum, Binance Smart Chain (BSC), and Avalanche. Following a rebranding in December and a $60M funding round led by Binance, the protocol now boasts an $8B+ Total Value Locked (TVL) with over 300,000 users.
Vulnerability Alert: Immediate Action Required
On June 18th, MultiChain disclosed a critical vulnerability affecting six cross-chain tokens:
- Wrapped Ethereum (WETH)
- PERI Finance (PERI)
- Mars Token (OMT)
- Wrapped Binance Coin (WBNB)
- Polygon (MATIC)
- Avalanche (AVAX)
While the technical flaw has been patched, users who previously approved these tokens on MultiChain's router must revoke wallet signatures immediately to prevent potential asset compromise.
👉 Protect your assets now by revoking approvals
Security Assurance from MultiChain Team
- Only V2 Bridge and V3 router approvals are affected
- All existing assets remain secure
- Cross-chain transactions continue uninterrupted
Step-by-Step Guide to Revoke Token Approvals
- Access Approval Dashboard
Visit MultiChain's approval portal while connected to your wallet. Network Selection
If not already connected:- Switch to BSC for WBNB
- Switch to Avalanche for AVAX
Revocation Process
- Click "Revoke" button for each token
- Confirm via MetaMask popup
- Wait for "Approve BNB/AVAX" confirmation
- Verification
Refresh the page until "No actions needed" appears, confirming successful revocation.
Cross-Chain Risks: A Growing Concern
This incident follows MultiChain's July 2021 exploit (as Anyswap) where $3M+ in USDC and MIM was stolen via V3 router vulnerabilities. The crypto community continues debating cross-chain security:
"The future will be multi-chain, not cross-chain." — Vitalik Buterin
Fundamental security model disparities between chains create systemic risks, even with secure bridges.
Historical Precedents
- Polygon Plasma Bridge (October 2021): Averted $850M potential loss thanks to a whitehat hacker's $2M bounty report
- Increasing exploits highlight the need for robust auditing and rapid response systems
FAQ: Addressing User Concerns
Q: Do I need to revoke approvals if I've never used MultiChain?
A: No action required unless you've specifically approved the 6 listed tokens.
Q: Are funds currently at risk?
A: The patched vulnerability doesn't affect assets, but unrevoked approvals could be exploited.
Q: How often should I review token approvals?
A: Audit wallet approvals monthly, especially after interacting with new protocols.
Q: What's the cost to revoke approvals?
A: Expect minor gas fees for each revocation transaction.
👉 Stay secure with these wallet protection tips
Q: Will MultiChain compensate users for lost funds?
A: No announcements yet, but protocols often address losses case-by-case post-investigation.
Q: Are other cross-chain protocols safer?
A: All bridges carry risks—diversify assets across chains and monitor official security audits.
For continued security updates, users should follow MultiChain's official channels and enable notification alerts.
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