#Multichain ethereum binance chain avalanche binance update

These concerns turned up a notch following radio silence from the protocol after its last vague update to the community. The team later claimed “force majeure” as the problem amid rising concerns about Multichain’s $1.5 billion TVL protocol. Several transactions are now jammed on the protocol on bridges linked to chains like Polygon zkEVM and zkSync. The protocol which allows users to move assets across multiple chains by acting as a bridge, suffered technical issues according to the team. Today’s update is the latest development in an ongoing saga with Multichain. Binance clarified that users will be able to deposit these assets on other networks and the exchange. The temporary halt on deposits will remain until Binance receives “clarity from the Multichain team”, an update from the crypto exchange said on Thursday. These 10 affected crypto coin deposits are spread across four different blockchain networks – Avalanche, BNB Chain, Ethereum, and Fantom. The bridged tokens include pairs like AVA-ETH, ALPACA-FTM, FTM-ETH, and ACH-BSC to name a few.

Major crypto exchange Binance suspended deposits for 10 bridged crypto coins pending an update from the Multichain team. The temporary deposit suspension on Binance follows growing concerns about the Multichain protocol and unverified rumors about the teams’ arrest in China.The Binance deposits for these coins are only affected on four blockchains – Avalanche, BNB Chain, Ethereum, and Fantom networks.Binance suspended deposits for 10 bridged crypto coins pending an update from the Multichain team.