Multichain Suspends Services, Fails to Contact CEO – Crypto News – Crypto News
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Multichain Suspends Services, Fails to Contact CEO – Crypto News

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Crypto News: multichain, a cross-chain router protocol (CRP), has been experiencing what seems to be an endless stream of technical difficulties, with the team currently unable to contact its CEO amid the ongoing drama surrounding the operational issues. In a message posted on its official Twitter account on Wednesday, the team explained that unforeseen circumstances have caused multiple issues for the Multichain protocol, leaving them unable to access necessary servers for maintenance.

Multichain Struggles To Resolve Issues

According to the statement released, an issue with the scanning node network of Router5 has impacted the normal cross-chain service of several chains. The team emphasized that the problem exceeds their current permissions and abilities. However, in order to protect the interests of their users, the Multichain team has made the decision to suspend the corresponding cross-chain service for the affected chain on the user interface. According to the team, a similar issue had transpired last week albeit on the Router2 node.

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In light of these challenges, the team has also requested their partners to refrain from directly calling the Multichain protocol smart contracts for cross-chain operations on or to the affected chain.

Suspends Cross-Chain Services For Affected Chains

As Reported earlier on CoinGape, the rampant technology issues faced by the Multichain protocol as well as rumors surrounding the whereabouts of its team — including speculation of their arrest in China — has left a severe dent on its brand which is heavily marketed as the “ultimate router for Web3.0”.

As things currently stand, the chains affected by this development include Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq. Meanwhile, in the wake of this crypto news, the price of MULTI — Multichain’s native cryptocurrency — dropped by 0.25% in the past hour as compared to a gain of 3.16% over the last 24 hours. At the time of writing, MULTI is currently exchanging hands at $4.13.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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