DeFiance Capital, a Singapore-based crypto venture capital firm, has resumed withdrawals from its liquid funds after a year-long suspension caused by the Multichain bridge exploit in July 2023. The firm originally paused withdrawals when the cross-chain bridge protocol Multichain suffered an exploit leading to losses of over $210 million. DeFiance Capital had significant exposure to Multichain through its liquid fund, and the suspension was intended to protect investor interests. Now, after extensive recovery efforts and restructuring, the firm is enabling withdrawals again, allowing investors to access their funds. The news highlights the lingering impact of major DeFi exploits on investment funds and the industry's ongoing recovery from such incidents.

Key facts

• DeFiance Capital resumes withdrawals after Multichain bridge hack caused year-long pause.
• The July 2023 exploit of Multichain led to over $210 million in losses.
• Suspension protected investors; now restructuring enables fund access.
• DeFiance's liquid fund had significant exposure to the affected protocol.

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