Multichain Says Some Routes Unavailable due to 'Force Majeure', to Compensate Affected Users

Cross-chain router protocol Multichain released a statement regarding the controversy that cross-chain funds don't arrive, saying that it will compensate affected users.

"While most of the cross-chain routes of Multichain protocol are functioning well, some of the cross-chain routes are unavailable due to force majeure, and the time for service to resume is unknown. After service is restored, pending transactions will be credited automatically. Multichain will compensate users who are affected during this process, and the compensation plan will be announced later." The statement said.

Yesterday, some users reported that their cross-chain transactions via Multichain didn't arrive. There were also rumors that the Multichain team had been arrested. Following the controversy, an address related to the Multichain team transferred 494,200 $MULTI to Gate.io, and the Fantom Foundation withdrew 449,740 $MULTI in liquidity from SushiSwap.

According to TokenInsight, the price of $MULTI dropped by 24.04% over the last 24 hours, trading at $5.3835 now.

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.