The latest statement from the Multichain Protocol confirmed that Zhaojun’s arrest report is almost real.
Multichain Protocol is a bridge or we can say a junction where huge numbers of crypto networks connect. The basic business model of this blockchain protocol is to provide cross-chain transactions between networks. Over the past couple of weeks, several issues occurred during the cross-chain transactions via Multichain Protocol & also the Multichain team failed to fix the issue.
In the last two weeks, several media reports surfaced in the crypto sector and claimed that Multichain CEO Zhao Jun was arrested in China. That negative news acted as a catalyst to create fear among the big participants of the Multichain Protocol.
Recently the Multichain team officially responded against the surging issues associated with cross-chain transactions and confirmed that they are failing to contact the Multichain CEO.
Zhaojun holds several key accesses of the Multichain Protocol e.g. server login, and other necessary service maintenance access. So the technical team is failing to fix the occurring problems at the core level.
“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.
For now, the Multichain team decided to suspend the affected cross chain service routes and also urged people not to call Multichain’s protocol as an affected chain.
For now, the cross-chain transactions between Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq networks have been suspended.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.