The price of the WOO Network (WOO) dropped by 8% as a result of the Ethereum wallet funded by a Multichain hack victim selling $2.4 million worth of chainlink’s token (LINK) and $1.8 million worth of WOO Network (WOO) tokens on Uniswap.
The wallet, which was established on Friday morning, received money from an address labelled as “suspicious” by etherscan. It was supposedly unknown to the Multichain team, but it was given the tag after receiving lockup cash from the Multichain team’s multi-signature address.
Following Zhaojun, the CEO of Multichain, and his sister’s incarceration by Chinese police, the company stopped operating last month. A few weeks ago, the bridging protocol was taken advantage of, resulting in the theft of $130 million, which was then transmitted to the wallet flagged as suspicious on etherscan after being split among various blockchains.
The wallet also received deposits of WOO and LINK, as well as CRV tokens and YFI, both of which are currently being sold on Uniswap, totaling $800,000 and $870,000, respectively.