- Binance was the first to make this decision
- They are waiting for clarity amid rumors of Multichain team arrest
Binance has suspended deposits for 10 assets on the Multichain network. This comes after news of massive glitches in the protocol.
So, the changes affect 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 “waiting for clarity” from the Multichain team.
Binance is not the only company concerned about the unexplained downtime.
One of the wallets associated with the Fantom Foundation removed 449,740 MULTI ($2.4 million) of liquidity on the decentralized SushiSwap exchange.
Other token holders have taken the same action.
Panic escalated after rumors surfaced of the Multichain founder’s arrest in China. But just a couple of hours ago he got in touch and said that the police had released him.
As a result, the price of MULTI jumped 40%.
In the meantime, Multichain has not updated information on its official Twitter account in a while.
It is still unknown what the problem with transactions in the protocol was related to. So we’ll wait for the exact news.