MultiChain: What next after scandal?
#multichain (MULTI), a cross-chain bridge protocol, has closed operations due to funding shortages and the arrest of its founder, Zhaojun, by Chinese officials.
Pending transfers were stuck, causing issues for the protocol. Zhaojun's family granted access to his desktop, which partially resumed operations.
However, Zhaojun's sister accessed client funds and moved at least $200 million worth of cryptocurrency. Chinese authorities have seized assets and forced Multichain to close.
Overall, Multichain's closure is a result of funding issues, combined with Zhaojun's arrest and the subsequent complications arising from his family's actions. The situation has led to uncertainty regarding the fate of the protocol and the assets held by Multichain.
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