CryptoNews: Multichain (MULTI), a cross-chain bridge protocol, has announced the closure of its operations. 🧐
This is due to a shortage of funding and Zhaojun's arrest by Chinese officials. Users claimed that pending transfers were getting stuck, which caused problems for the protocol.
Zhaojun was confirmed to be absentZhaojun's family gave Multichain developers access to his desktop on June 4 so they could address technical problems. The protocol partially resumed operations the following day. However, a month later, Zhaojun's sister gained access to client funds restricted to multi-party computation wallets and moved at least $200 million worth of cryptocurrency into wallets under her control.
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