Multichain Says Around $1.4M Ether Siphoned From Users Who Failed to Update Approvals

Multichain Says Around .4M Ether Siphoned From Users Who Failed to Update Approvals
Multichain users who did not update their approvals as instructed yesterday have been exploited and have lost 445 wrapped ether ($1.4 million), the project tweeted on Tuesday.On Monday, Multichain instructed its users to remove approvals for six tokens otherwise their assets would be exposed to a security vulnerability. The tokens in question were WETH, PERI, OMT, WBNB, MATIC, and AVAX.Decentralized finance security firm Dedaub first found the flaw, which Multichain said it had fixed.Later on Tuesday, crypto security firm PeckShield revealed the wallet address where the stolen funds had been deposited. The address holds 455 ether as of the time…