Multichain Admits Lost Contact With CEO

Key Points:

• Cross-chain project Multichain announced that it still does not know the situation of CEO Zhaojun, who has been rumored to be arrested by Chinese authorities.
• The project will still not be able to work with certain blockchains.

Multichain, one of the most important bridge protocols in the crypto sector, said Wednesday that it was stopping cross-chain routes and that its CEO, Zhaojun, could not be reached.

“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 maintenance,” the Multichain team said.

Without server access, the surviving team indicated that it could not maintain Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq bridges operational.

Following days of speculation, the revelation of Multichain’s server access difficulties confirmed that at least one important team member had gone missing.

The protocol’s issues were connected to its routers, which facilitate connections across chains. Routers 2 and 5, as well as Router 5, are impacted, affecting the connectivity between chains such as Kava, zkSync, and Polygon zkEVM.

The newest vulnerability, revealed today, impacts a number of chains, according to the team, who also highlighted that this problem is beyond the team’s present rights and capabilities.

“In order to protect the interests of our users, we have decided to suspend the corresponding cross-chain service for the affected chain on the UI. Last week, the same issue happened on Router2,” the team added.

As Coincu reported, the crypto world is abuzz with claims that Chinese authorities have jailed Multichain’s executive team and threatened to disrupt operations. Soon after this announcement, a number of wallets sold a big quantity of MULTI, while the Fantom Foundation removed a significant amount of liquidity from the pools due to worries about damaging the system. Multichain subsequently verified that the issue was caused by force majeure but provided no other details.

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Harold

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