Rabby users who overcame the Multichain crisis successfully recovered $85,000 worth of USDC locked for 2 years

MetaMisfit · 2026-01-13T09:16:11+00:00

The recent recovery of $85,740 in frozen assets through Rabby Wallet marks a significant turning point after the Multichain incident. The Singapore court's decision to liquidate Multichain and the U.S. judicial support further facilitates asset retrieval for affected investors.

MetaMisfit

2026-01-13 09:16:11

Abstract generation in progress

Turning Point in Asset Recovery

Since 2023, assets worth USDC 85,740 tied up due to the Multichain incident have recently been returned to the hands of Rabby Wallet users. This recovery was made possible by Rabby’s advanced features that allow tracking and withdrawal of assets stored on the blockchain, even when the protocol interface is completely disabled.

Singapore Judiciary’s Decision Changes the Course

The situation began to unfold when the Singapore High Court decided to officially liquidate the Multichain Foundation in May 2025 and appointed KPMG as the liquidator. This liquidation process, conducted under Singapore’s monetary system and legal framework, is making accessible the frozen assets that had not been stolen by hackers or seized by authorities.

U.S. Judiciary Also Strengthens Recovery Support

To supplement this, the U.S. courts have decided to maintain the freeze on wallets containing stolen USDC 63,000,000. An asset tracking and recovery system linked across both jurisdictions is now operational.

Potential for Actual Action by Victims

Affected investors can now directly check their asset holdings and attempt withdrawals through Rabby. By providing access at the protocol level, this has opened a blockchain-based asset recovery pathway despite the shutdown of existing trading interfaces.

USDC-0,02%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.