CDS Crypto News Cross-chain Bridges Of Multichain Suddenly Work Again
Crypto News

Cross-chain Bridges Of Multichain Suddenly Work Again

According to data by on-chain custodian Bobie, Multichain’s Zksync Era/Kava EVM/Avax C-Chain cross-chain bridge is back up and running after rumors.

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Cross-chain Bridges Of Multichain Suddenly Work Again

According to a tweet by Bobie, the creator of the Web3 knowledge graph protocol 0xScope, there are indications that the cross-chain bridge between Multichain’s Zksync Era, Kava EVM, and Avax C-Chain is likely operational once again.

Cross-chain Bridges Of Multichain Suddenly Work Again

Bobie, the founder of the Web3 knowledge graph protocol 0xScope, took to Twitter to suggest that the cross-chain bridge involving Multichain’s Zksync Era, Kava EVM, and Avax C-Chain might be operational again. However, there have been no official updates from Multichain’s social media accounts.

Cross-chain Bridges Of Multichain Suddenly Work Again
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Cross-chain Bridges Of Multichain Suddenly Work Again
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On May 24, rumors circulated within the crypto community that the Multichain development team had been detained by Chinese authorities, raising concerns about the project’s operations.

Consequently, several wallets started selling a substantial amount of the MULTI token. Simultaneously, the Fantom Foundation withdrew a significant liquidity portion from the pools due to worries about the protocol’s stability.

Subsequently, on June 1, Multichain made an announcement stating that they were still unable to reach CEO Zhao Jun for the required server access, leading them to suspend the affected chain’s cross-chain services within the user interface.

The Multichain team acknowledged encountering numerous issues with the protocol over the past couple of days, despite their best efforts to maintain its operation.

However, due to the inability to establish contact with CEO Zhao Jun and acquire the necessary server access for maintenance, they decided to temporarily halt the inter-chain services for the affected chains to protect user interests.

Following the news of the potential resumption of activity, the MULTI token experienced a rapid surge from $3.68 to $5.11, resulting in a 35% increase within the last 24 hours.

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About Multichain

Multichain serves as a comprehensive web3 Router, offering infrastructure designed to facilitate seamless cross-chain interactions.

The solutions developed by Multichain enable interoperability across a wide range of blockchains, without limitations to Ethereum-like chains (such as Binance Smart Chain), Layer 2 chains requiring Ethereum finality (like Polygon), Parachains within the PolkaDot system (such as Moonbeam), Bitcoin-like chains (including Litecoin), or COSMOS chains (such as Terra).

These chains are either already integrated into Multichain or are currently being integrated. With support for ECDSA and EdDSA encrypted chains, Multichain provides extensive applicability as an interoperable layer across various blockchain networks.

To access more crypto news: cryptodataspace.com

Sources:newscoincu
Written by
Aziz KARTAL

Aziz Kartal is 21 years old. He is a student at the Gazi University, Department of Electrical and Electronical Engineering. He works as content writer, researcher and social media manager. He generally research about Web3, Blockchain Security and Cybersecurity.

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