- Binance was the first to make such a decision.
- They are waiting for clarity amid rumors about the arrest of the Multichain team
Binance suspended deposits for 10 assets in the Multichain network. This happened after the news about the massive problems in the protocol.
So, the changes concern the pairs Polkastarter (POLS), Alpaca Finance (ALPACA), Travala.com (AVA), Spell (SPELL), Fantom (FTM), Alchemy (ACH), Beefy (BIFI), SuperVerse (SUPER), Harvest Finance (FARM) and DeXe (DEXE). The crypto exchange added that this is a temporary measure and they are “awaiting clarity” from the Multichain team.
Binance is not the only company that is concerned about the unexplained downtime. One of wallets, associated with the Fantom Foundation, removed 449,740 MULTI ($2.4 million) from liquidity on decentralized exchange SushiSwap. Exactly the same actions began to be taken by other token holders.
Panic intensified after rumors surfaced that the founder of Multichain had been arrested in China. But just a couple of hours ago, he got in touch and said that the police released him. Eventually MULTI price jumped 40%.
Meanwhile, Multichain has not updated their official Twitter account for a long time. It is still unknown what caused the problem with transactions in the protocol. So let’s wait for the exact news.