News

Former Multichain Engineer Launches New Project While $125M Lost Still Unanswered

Key Points:

Former Multichain engineer launches ValueRouter, a cross-chain project simplifying asset trading.
ValueRouter unifies DeFi across mainstream chains, extending to real-world assets.
Multichain previously reported a $125 million crypto loss incident.

A former Multichain engineer has unveiled an innovative project known as ValueRouter.

Former Multichain Engineer Introduces ValueRouter

This groundbreaking initiative aims to simplify multi-chain asset trading by seamlessly bridging assets between Ethereum, Avalanche, Optimism, and Arbitrum, offering a secure, low-cost, and rapid cross-chain solution.

ValueRouter‘s integration of Circle CCTP and DEX allows developers to create cross-chain decentralized applications (dApps), while users can efficiently route their assets to various DeFi platforms. This initiative seeks to unify the DeFi ecosystem across mainstream chains, forging a single interconnected platform that extends even to real-world assets (RWAs).

By combining DeFi with RWAs, the former Multichain engineer project creates a symbiotic relationship where the value from RWAs bolsters and expands the DeFi space. The result is a more sustainable and expansive decentralized financial landscape, unlocking untapped potential for RWAs within the DeFi realm.

Security Concerns Arise as $125 Million Crypto Loss Incident

Multichain, a leading cross-chain service provider founded in 2020, has been a pioneer in providing cross-chain services, enabling crypto users to transfer funds across different blockchains. The company boasts leadership in terms of security, cross-chain speed, and cost-efficiency, interconnecting multiple chains.

Notably, Multichain made headlines on July 6 when it reported that $125 million in users’ crypto had been moved to an unknown address. The incident sparked debates among victims, speculating whether it was a hack, an inside job, or another mysterious occurrence.

ValueRouter’s introduction promises to reshape the cross-chain DeFi landscape, although some users still have questions about the funds that the project has yet to answer for them.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.