Rebranding still problematic! Cross-chain token swap protocol Multichain (formerly Anyswap) warns of vulnerabilities, users need to remove these permissions.

The cross-chain exchange protocol Multichain, formerly known as Anyswap, released an announcement on the evening of the 18th, stating that a vulnerability was discovered by the cybersecurity company Dedaub, and the team has since fixed it. The official warning states that users who have previously approved the following six tokens on the router need to revoke them: WETH, PERI, OMT, WBNB, MATIC, AVAX, or else their assets may be at risk. The official statement mentions that approximately 455 WETH are affected, and the post does not allow comments. Several users have reported being affected by this incident.

Withdrawal Steps

For those who have previously approved WETH, PERI, OMT, WBNB, MATIC, and AVAX on Multichain formerly Anyswap, the following steps need to be taken, if not, no action is required:

Access this URL and connect your wallet to check: https://app.multichain.org/#/approvals

If you have never granted the aforementioned risky permissions, it will show that no action is needed:

If you have granted risky permissions before, it will prompt you to connect to a specific chain and proceed with the withdrawal.

Switch your wallet to the specific chain

Click on "revoke" to withdraw

Your wallet will request confirmation

This action requests users to give permission, which is different from the concept of revoking. When users raised questions, the official response was "Approve 0 = revoke," meaning allowing 0 = withdrawal.

If there are risky permissions on more than two chains, after completion, it will prompt you to switch to the next chain

Anyswap Rebrands to Multichain, Secures $60 Million Investment Led by Binance

Last December, Anyswap was just renamed to Multichain and announced a $60 million investment led by Binance Labs, the investment arm and incubator of Binance. However, security risks have emerged today, as Anyswap also encountered a security issue in July last year.

Cross-chain bridge issues have been frequent, with even Ethereum's founder expressing his skepticism towards cross-chain in a recent article. For more details, you can also read: "Interview with PeckShield and BlockSec: Why have Cross-chain Bridges become Security Vulnerable Areas?"

This protocol currently has a TVL of $8.11 billion, with Fantom and Avalanche having the most funds locked. Related tokens experienced a 15% daily crash.