The 2023 Anyswap Shutdown Changed Bridge Checks
The latest meaningful change to Anyswap happened in July 2023: after an exploit drained roughly $125 million, Multichain—its renamed successor—ceased operations. That matters if you are searching for Anyswap because old guides, cached interfaces, and token lists can still make a dead route look usable.
The practical lesson is simple: treat “Anyswap” as a historical name, not proof that a bridge is live. Before sending anything, confirm the route can actually complete today, then check the asset on both networks. USDC on Ethereum and USDC on another chain may share a ticker while using different contracts, liquidity, and redemption paths. The receiving token’s address is more important than its logo.
Where first attempts usually go wrong
The common mistake is choosing the token first and the route second. A safer sequence is:
- Set the source and destination networks explicitly.
- Compare the exact token contract and the amount you will receive.
- Check the quoted fee, minimum amount, estimated completion time, and destination liquidity.
- Approve only the amount needed, then send a small test transaction.
That last step is not busywork. A bridge transfer is not the same as swapping on one chain: assets may be locked and represented elsewhere, or they may be withdrawn from a liquidity pool. If the destination pool is thin, your transaction can remain pending or return a representation you cannot immediately redeem.
There is also a quieter trap in the wallet prompt. A token approval gives a contract permission to move tokens through transferFrom; that standard behavior is described in Ethereum’s ERC-20 specification. Approve the verified route contract, not an unfamiliar address copied from a chat, and revoke old approvals after you finish.
This is what the collapse of Multichain opened up: a better habit of evaluating the route itself rather than trusting a familiar brand. The useful question is no longer “How do I use Anyswap?” but “Which live path can move this exact asset from this exact chain, and how do I verify the result?”
Once those details are clear, the next step is to inspect the current anyswap route against your wallet, token, and destination network before committing funds.