- Ankr temporarily suspends incentives for Arbitrum, FTM, and AVAX pools due to a security breach in Multichain, affecting $127M in locked assets.
- Ankr is committed to minimizing reliance on third-party bridges and ensuring the security of users’ assets.
- The platform has plans to develop an in-house solution to reduce dependence on external services and expand bridge capabilities for the DeFi and LSTfi community.
In a recent development, Ankr has announced a temporary halt in incentivizing pools with the ANKR token. This decision comes in the wake of a recent $127M exploit on Multichain, leading to the abnormal transfer of locked assets from the Multichain MPC address to an unknown address.
The team at Multichain remains uncertain about the cause of the incident. It has advised users to suspend the use of Multichain services and revoke all contract approvals related to Multichain.
Ankr Staking has taken this swift measure to ensure the safety and integrity of its users’ assets. The specific chains affected by the temporary halt include Arbitrum, FTM, and AVAX. This decision was made in response to the security breach on Multichain, where $127M in locked assets was moved to an unknown address.
Ankr has expressed its commitment to addressing the situation efficiently and with full transparency. The company aims to reduce reliance on third-party bridges and ensure the security and accessibility of ANKR holders’ assets. Plans to develop an in-house update to minimize dependence on external services are already in motion.
Looking ahead, Ankr’s primary objective is to restore operations expeditiously while also bolstering its bridge capabilities. Given the recent fiasco, things are looking bleak for the crypto community.