Optimism’s Multisig Wallet Unexpectedly Moved, Making the Community Confused

After receiving much criticism from the multisig wallet error in June, Optimism recently caused a stir in its community with the suspicious movement of this wallet. But it’s all just a misunderstanding.

In June 2022, a mistake between multisig (multi-signature) addresses in different chain formats caused Optimism to lose 20 million OP tokens (estimated at about $20 million at the time).

However, on the evening of August 17, Optimism’s multisig wallet had a suspicious move, causing many community members to think that this was another hack related to the project’s multisig wallet.

Token OP moved quickly to the area of ​​1.29 USD then returned to the current price range because of concerns and lack of accurate information.

Soon after, Optimism had to post a correction tweet about last night’s wallet activity.

Accordingly, the project reassures users that this is not an unlocking process, but just sending money to a wallet for Coinbase to support operations on this L2 network. At the same time, the project apologized to users for not giving clear notice before implementation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

CoinCu News