Multichain bridge hack

How to Revoke Token Approvals Related to Multichain Bridge Hack to Protect Funds

By Charles Gune | cryptoguru | 7 Jul 2023


Multichain bridge got hacked and lost $125 Million dollars. I will show you how to look up token approval for your wallet address. For this I am going to use Krystal.app Token Approval feature makes this process seamless and hassle-free:

https://defi.krystal.app/token-approval-checker

Go to the above link. Connect your Metamask wallet.
1 Search Multichain on the search tab
2 Revoke all Multichain-related contract

I connected my Metamask wallet. I search for all tokens with unlimited spending. It shows all approved tokens from many chains. In this example, I am going to revoke MIM tokens minted. Always revoke tokens spending approval from unknown providers. I do not remember who approved MIM tokens. I do not recognize it as a known protocol so I am going to revoke it. I revoke all tokens with unlimited spending or very last spending limits. I just wanted to be safe and vigilant in lieu of Multichain bridge hack. It is generally good idea to revoke all unlimited spending from any Protocol. Event if you store your tokens in Hardware wallet still funds can be stolen by Smart Contract Exploit with Protocol Bridge exploit.

If you enjoy this protecting crypto assets from Bridge Exploits using Revoke token approvals video, please subscribe and hit the tip button (it does not cost you anything) to show some love. Happy crypto!

How do you rate this article?

11


Charles Gune
Charles Gune

I love anything about cryptocurrencies. I am avid follower of cryptocurrencies. I follow trends on crypto. I am small scale cryptocurrency miner with my private farm.


cryptoguru
cryptoguru

Interesting topics on Cryptocurrency. Gears toward learning to earning Sats from Cryptocurrencies.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.