Multichain MPC bridge sees $100M+ outflows, sparking fears of exploit

Abnormally large outflows from the Multichain multi-party computation (MPC) bridge platform are sparking fears of a multimillion-dollar exploit. On July 6, observers noticed that over $102 million worth of crypto had been withdrawn from Multichain’s Fantom bridge on the Ethereum side, as well as $666,000 from Dogechain and $5 million from Moonriver. Several on-chain sleuths took to Twitter to label the event as a possible exploit. Multichain said the movements were abnormal and the team “is not sure what happened and is currently investigating.”

Coinbase domain name reportedly used by scammers in high-profile attacks

Coinbase’s users have been turning to Twitter to report scams and phishing attacksinvolving the company’s services and applications in the recent weeks, including claims that scammers are using the crypto exchange’s domain name. According to reports, perpetrators have been using the email “help@coinbase.com” to deceive users and gain access to accounts. Coinbase said anyone scamming its customers will be prosecuted.

BarnBridge DAO calls halt to ‘all work’ on DeFi protocol amid SEC probe

BarnBridge DAO members have been told to pause “all work” related to the projectafter a reported probe by the U.S. Securities and Exchange Commission. Douglas Park, a lawyer for the decentralized autonomous organization, revealed the news to members in a post on the platform’s Discord channel. All BarnBridge-related products are currently on hold, including its liquidity pools. DAO members are not receiving compensation for work flowing from the investment efforts of the organization.