Multichain, a cross-chain router protocol formerly known as Anyswap, asks users to revoke the approvals for six tokens to avoid any unwanted losses. This is because of a “critical vulnerability” malicious individuals are exploiting. In other words, Multichain users who previously approved the following tokens are currently at risk: Wrapped ETH (WETH), Peri Finance (PERI), Official Mars Token (OMT), Wrapped BNB (WBNB), Polygon (MATIC), and Avalanche (AVAX).
To ensure that these users don’t experience any losses, the Multichain team urges them to cancel the approvals to protect their assets. The team even provided a step-by-step guide to help them revoke the approvals easily. The team also notes that users shouldn’t transfer any concerned tokens before revoking approvals.
Security firm Dedaub initially detected the vulnerability, after which they quickly informed Multichain about it. The team quickly fixed the issue, with Multichain reporting that the assets on the V2 Bridge and V3 Router are now safe and secured.
2/If you have ever approved any of these 6 tokens, pls log in https://t.co/S9nDfrM1eO asap to revoke the approvals, otherwise, your assets are at risk.
— Multichain (Previously Anyswap) (@MultichainOrg) January 17, 2022
However, hackers are still trying to exploit the vulnerability even now to try and get ahold of the users’ funds. At this time, the vulnerability has impacted 445 WETH, or $1,412,274.25.
In other news, reports show that hackers and scammers from last year stole more than $10.2 billion overall. Nevertheless, the community is working hard to take the appropriate measures and provide the proper resolutions. Mitchell Amador, Immunefi’s CEO and founder of security, said to Cointelegraph that the community is quickly adapting even though new vulnerabilities are present in the on-chain economy.
Immunefi isn’t the only security firm to remain vigilant for scams, rug pulls, and hacks these days. Certik recently identified Arbix Finance as a rug pull, urging users to stay as far away as possible from the project.
