A user named Rabby successfully recovered locked funds from the 2023 Multichain Event

BlockBeats News, December 22, the cryptocurrency wallet Rabby Wallet officially stated that a user has recovered 85,740 USDC stuck in Multichain since 2023. Users can track and retrieve assets left in a DeFi protocol, even if the original frontend has become defunct.

In 2023, the cross-chain routing protocol Multichain suffered a collapse, resulting in a large-scale abnormal outflow of assets totaling around 125 to 130 million USD. The status of remaining assets was unclear, and most users were unable to withdraw their funds. In May 2025, the Singapore High Court approved the liquidation application of the Multichain Foundation. As the liquidation process progressed, some previously frozen or locked funds were gradually made available for withdrawal, especially assets that had not been transferred by hackers or were released after being seized by law enforcement.