Multichain (MULTI) protocol, a decentralized cross-chain solution supporting multiple blockchains, announced that it is suspending cross-chain service for 11 chains due to technical issues and its inability to reach its CEO.
Lost Communication Between Multichain CEO and Developers
According to a statement released today on the project's official Twitter account, the Multichain protocol has faced many challenges over the past two days due to "unforeseen circumstances". The team said they did their best to keep the protocol up and running, but lost contact with CEO Zhaojun, who retained the necessary server access for maintenance.
The statement also stated that there is a problem in the scanning node network of Router5, one of the components of the Multichain protocol that provides inter-chain communication. This issue has affected the normal functioning of some chains and is beyond the team's current permissions and ability to fix.
The team has decided to temporarily suspend the cross-chain service for affected chains in the UI to protect the interests of users.
In the past two days, the Multichain protocol has experienced multiple issues due to unforeseeable circumstances. The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for…
— Multichain (Previously Anyswap) (@MultichainOrg) May 31, 2023
They also asked their partners to stop calling Multichain protocol smart contracts for cross-chain transactions directly on or towards the affected chains.
The problems of the multichain protocol came after speculation that its CEO, Zhaojun, was arrested by Chinese authorities as part of a crackdown on crypto-related activities in the country. The team said in a previous statement that the CEO had not been arrested.
*Not investment advice.
