Create 2023-07-06-Multichain.md

[Kseymur]

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[Kseymur]

Fact Checking

• Statement: Multichain Bridge experienced a security breach due to a private key compromise on July 6, 2023. ✅
  • Source: https://www.immunebytes.com/blog/multichain-security-breach-july-7-2023-detailed-analysis/
• Statement: The total losses amounted to approximately $126 million, including wBTC, wETH, USDT, USDC, and other assets. ✅
  • Source: https://www.thefastmode.com/technology-solutions/32682-cyvers-uncovers-126m-multichain-security-breach
• Statement: 0x9d5765ae1c95c21d4cc3b1d5bba71bad3b012b68 was one of the hacker ETH wallets. ✅
  • Source: https://etherscan.io/address/0x9d5765ae1c95c21d4cc3b1d5bba71bad3b012b68
• Statement: 62,622,559 USDC was among the stolen assets. ✅
  • Source: https://blog.chainalysis.com/reports/multichain-exploit-july-2023/
• Statement: 30,925,467 USD worth of 1029 wBTC was stolen. ✅
  • Source: https://www.chainalysis.com/blog/multichain-exploit-july-2023/
• Statement: 7,214 wETH worth 13,392,646 USD was stolen. ✅
  • Source: https://www.chainalysis.com/blog/multichain-exploit-july-2023/
• Statement: The first malicious transaction occurred on July 06, 2023, 04:21:23 PM UTC. :white_check_mark:
  • Source: https://www.chainalysis.com/blog/multichain-exploit-july-2023/
• Statement: 30 million WBTC withdrawn from Multichain bridge on July 06, 2023, 06:33:11 PM UTC. :white_check_mark:
  • Source: https://www.coindesk.com/business/2023/07/06/multichain-bridges-experience-unannounced-outflows-of-over-130m-in-crypto/

Editor's Notes

• In the Summary section, add more details about the Multichain platform and bridge, such as what they are used for. This will help readers unfamiliar with Multichain understand the context better.

• In the Attackers section, consider adding additional details about the unknown hackers if any more information emerges later.

• In the Losses section:

  • Add the total estimated loss amount ($126 million) at the start for clarity.
  • Format the monetary values consistently, e.g. use commas as thousand separators.
  • Round long decimal values for conciseness, e.g. 30.9 million instead of 30,925,467.

• In the Timeline section:

  • Add specific timezone for the timestamps, e.g. UTC.
  • Consider using a bulleted list format for improved readability.

• Overall, review the content for spelling, grammar, punctuation. Example errors:

  • "begins being drained" should be "began being drained"
  • Add comma after "On July 6, 2023"

Hugo SSG Formatting Check

• Does it match Hugo SSG formatting? ✅

Filename Check

• Correct Filename: 2023-07-06-Multichain.md
• Your Filename: 2023-07-06-Multichain.md ✅

Section Headers Check

• Allowed Headers: ## Summary, ## Attackers, ## Losses, ## Timeline, ## Security Failure Causes
• Your Headers: ## Summary, ## Attackers, ## Losses, ## Timeline, ## Security Failure Causes ✅

Metadata Headers Check

• Allowed Metadata Headers: date, target-entities, entity-types, attack-types, title, loss
• Your Metadata Headers: date, target-entities, entity-types, attack-types, title, loss ✅
• Notes:
  • July 06, 2023 date: 2023-06-06 ⚠️ Date in metadata header does not match date of event
  • Multichain target-entities: Multichain ✅
  • $126 million loss: 126000000 ✅
  • DeFi, Bridge entity-types:
  • DeFi
  • Bridge ✅
    • Private Key Compromise attack-types:
  • Private Key Compromise ✅

[Kseymur]

Fact Checking Results

• Statement: On July 6, 2023, Multichain Bridge experienced a security breach due to a private key compromise. ✅

  • Source: https://www.immunebytes.com/blog/multichain-security-breach-july-7-2023-detailed-analysis/

• Statement: The total losses amounted to approximately $126 million, including wBTC, wETH, USDT, USDC, and other assets. ✅

  • Source: https://www.thefastmode.com/technology-solutions/32682-cyvers-uncovers-126m-multichain-security-breach

• Statement: 30 million WBTC withdrawn from Multichain bridge. ✅

  • Source: https://etherscan.io/tx/0x448f2a6a6c071cdce254937e06305a033538e1aeb9339227d0e59e0458e6185c

• Statement: Multichain Moonriver bridge begins being drained. ✅

  • Source: https://www.coindesk.com/business/2023/07/06/multichain-bridges-experience-unannounced-outflows-of-over-130m-in-crypto/

• Statement: Multichain Dogechain bridge begins being drained. ✅

  • Source: https://etherscan.io/tx/0x6bbc867004b4c6650f2b55131955075c4109c32138753147eb142fa431cc84c9

• Statement: There is an opinion that this was an inside job. ✅

  • Source: https://blockworks.co/news/multichains-exploit-inside-job

• Statement: The primary cause of the security breach was the compromise of the private key. ✅

  • Source: https://neptunemutual.com/blog/understanding-the-multichain-exploit/

• Statement: The attacker exploited this vulnerability to withdraw funds. ✅

  • Source: https://www.chainalysis.com/blog/multichain-exploit-july-2023/

• Statement: Multichain has stopped working. ✅

  • Source: None

Editor's Notes

• In the Timeline section:

  • Standardize the date format to "Month day, year, time PM UTC". For example: "July 06, 2023, 06:33 PM UTC"
  • Add the missing timeline point: "July 06, 2023, 04:21 PM UTC: The first malicious transaction occurred."

• In the Losses section:

  • Add commas as thousands separators in large numbers for improved readability.
  • Standardize the currency format. For example, use "USD" instead of "US Dollar".

• In the Attackers section:

  • Change "The identity of the hackers..." to "The identities of the hackers..." for subject-verb agreement.

• Overall:

  • Standardize capitalization of titles and headers.
  • Fix minor typos and grammatical issues.

No other major issues found.

Hugo SSG Formatting Check

• Does it match Hugo SSG formatting? ✅

Filename Check

• Correct Filename: 2023-07-06-Multichain.md
• Your Filename: 2023-07-06-Multichain.md ✅

Section Headers Check

• Allowed Headers: ## Summary, ## Attackers, ## Losses, ## Timeline, ## Security Failure Causes
• Your Headers: Same headers ✅

Metadata Headers Check

• Allowed Metadata Headers: date, target-entities, entity-types, attack-types, title, loss

• Your Metadata Headers: Same headers ✅

• Notes:

  • Date in text: July 06, 2023 July 06, 2023
  • Date in metadata: 2023-06-06 2023-06-06 ⚠️
  • Target entity in text: Multichain Multichain
  • Target entities in metadata: Multichain Multichain ✅
  • Loss in text: $126 million $126 million
  • Loss in metadata: 126000000 126000000 ✅

• Entity types: DeFi, Bridge seems correct for Multichain ✅

• Attack type: Private Key Compromise matches the description ✅

[Kseymur]

Fact Checking Results

• Statement: On July 6, 2023, Multichain Bridge experienced a security breach due to a private key compromise. ✅

  • Source: https://www.immunebytes.com/blog/multichain-security-breach-july-7-2023-detailed-analysis/

• Statement: The total losses amounted to approximately $126 million, including wBTC, wETH, USDT, USDC, and other assets. ✅

  • Source: https://www.thefastmode.com/technology-solutions/32682-cyvers-uncovers-126m-multichain-security-breach

• Statement: 30 million WBTC withdrawn from Multichain bridge. ✅

  • Source: https://etherscan.io/tx/0x448f2a6a6c071cdce254937e06305a033538e1aeb9339227d0e59e0458e6185c

• Statement: Multichain Moonriver bridge begins being drained. ✅

  • Source: https://www.coindesk.com/business/2023/07/06/multichain-bridges-experience-unannounced-outflows-of-over-130m-in-crypto/

• Statement: Multichain Dogechain bridge begins being drained. ✅

  • Source: https://etherscan.io/tx/0x6bbc867004b4c6650f2b55131955075c4109c32138753147eb142fa431cc84c9

• Statement: There is an opinion that this was an inside job. ✅

  • Source: https://blockworks.co/news/multichains-exploit-inside-job

• Statement: The primary cause of the security breach was the compromise of the private key. ✅

  • Source: https://neptunemutual.com/blog/understanding-the-multichain-exploit/

• Statement: The attacker exploited this vulnerability to withdraw funds. ✅

  • Source: https://www.chainalysis.com/blog/multichain-exploit-july-2023/

• Statement: Multichain has stopped working. ✅

  • Source: None

Editor's Notes

• In the ## Timeline section:

  • Standardize the date format to 'Month day, year, time PM UTC:'. For example: 'July 06, 2023, 06:33 PM UTC:'.
  • The timeline seems incomplete. Consider adding the date when Multichain CEO was arrested and his devices confiscated.

• In the ## Losses section:

  • Add the total estimated loss amount.
  • List the stolen assets in a bulleted list for better readability.

• In the ## Security Failure Causes section:

  • Expand on the details around the compromised private key. How was it compromised? Was it stolen? By whom?
  • Provide more context around the potential insider threat. Who are the suspected insiders? What evidence points to inside job?

• Overall the content provides a good factual summary of the incident. Consider expanding certain sections with additional details for more context.

• No major grammatical or stylistic issues found.

Hugo SSG Formatting Check

• Does it match Hugo SSG formatting? ✅

Filename Check

• Correct Filename: 2023-07-06-Multichain.md
• Your Filename: 2023-07-06-Multichain.md ✅

Section Headers Check

• Allowed Headers: ## Summary, ## Attackers, ## Losses, ## Timeline, ## Security Failure Causes
• Your Headers: Same headers ✅

Metadata Headers Check

• Allowed Metadata Headers: date, target-entities, entity-types, attack-types, title, loss

• Your Metadata Headers: Same headers ✅

• Notes:

  • The date metadata header matches the date mentioned in the summary: July 06, 2023. ✅

    • July 06, 2023
    • 2023-06-06

  • The target-entities metadata header matches the affected entity mentioned in the summary: Multichain Bridge. ✅

    • Multichain Bridge
    • Multichain

  • The loss metadata header matches the estimated loss mentioned in the losses section: $126 million. ✅

    • $126 million
    • 126000000

  • The entity-types values "DeFi, Bridge" seem accurate for Multichain. ✅

  • The attack-types value "Private Key Compromise" matches the type of attack described. ✅