Multichain Criticized for Having Cross-chain Funds Stuck, $MULTI Drops 11% over 24H

Multichain Criticized for Having Cross-chain Funds Stuck, $MULTI Drops 11% over 24H

Multiple crypto KOL said on Twitter that Multichain users' funds are stuck after using the bridge for cross-chain transfers. In addition, those who report the issue in official Multichian Telegram group are getting banned.

Multichain's statement on May 23rd said that due to the back-end node upgrade, some routes were temporarily suspended, and all the affected transactions would arrive once the upgrade is complete.

According to TokenInsight data, the price of $MULTI dropped by 11.45% over the last 24 hours, trading at $6.1897 now.

In addition, according to 0xScope, an address related to the Multichain team transferred 494,200 $MULTI to Gate.io an hour ago, which was worth around $3.17 million at the time.

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Source

Cross-Chain

DeFi

Security Incidents

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