Multichain Bridged BUSD (Moonriver)Price

(BUSD)

This token is a bridged representation created by the Multichain protocol rather than the native asset. The deviation occurred because the Multichain bridge experienced a security exploit following the detention of its leadership and the compromise of private keys. Consequently, the collateral held in the bridge’s vaults on other networks became inaccessible. Without this backing, the Moonriver version of the token lost its value, resulting in a permanent loss of its peg.

No. The Multichain bridge has permanently halted its operations, which means there is no functional route to transfer these tokens back to their original network. Major centralized exchanges, including platforms like LBank, have suspended support for Multichain-bridged assets. Furthermore, since the original issuer has phased out this specific stablecoin in favor of newer alternatives, it is impossible to redeem or cash out these bridged tokens through standard exchange platforms.

Currently, there is no official bailout or compensation plan for users holding bridged stablecoins like Multichain BUSD. While some ecosystem governance proposals have addressed recovery for specific native tokens, these do not extend to third-party bridged assets. Because the bridge was an independent service, the network foundations do not have the authority to issue new assets or reserves to cover losses resulting from the bridge's failure.

While some liquidity might remain on decentralized exchanges within the Moonriver ecosystem, it is extremely limited. Attempting to swap these tokens will likely result in high slippage, meaning you would receive very little value in return. Most liquidity providers have withdrawn their funds, leaving the remaining pools insufficient for standard trading or recovery of significant value.

Yes, revoking approvals is a highly recommended security measure. If you previously granted "infinite approvals" to Multichain contracts, your wallet could remain vulnerable to future risks. Even though the bridge is no longer operational, leaving these permissions active is a security vulnerability. You should use a contract interaction tool to remove any existing permissions associated with compromised or abandoned protocols.

No. Native BUSD is issued by regulated entities and backed by reserves. The version on Moonriver is an "IOU" issued by the Multichain bridge. Its value was entirely dependent on the bridge’s ability to secure the native collateral on other chains. Once the bridge was exploited and the collateral became inaccessible, the Moonriver-based token became a disconnected asset without the financial backing of the original issuer.