{"id":328404,"date":"2023-05-25T15:05:30","date_gmt":"2023-05-25T14:05:30","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=328404"},"modified":"2023-05-25T16:09:14","modified_gmt":"2023-05-25T15:09:14","slug":"binance-temporarily-suspends-deposits-for-10-multichain-bridged-tokens","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-temporarily-suspends-deposits-for-10-multichain-bridged-tokens\/","title":{"rendered":"Binance temporarily suspends deposits for 10 Multichain-bridged tokens"},"content":{"rendered":"<p>Crypto exchange Binance has announced a temporary suspension of deposits for ten Multichain-bridged (<a style=\"border-bottom: 0px;\" href=\"https:\/\/cryptoslate.com\/coins\/multichain\/\">MULTI<\/a>)\u00a0 tokens, pending further clarification from the protocol's team.<\/p>\n<p>According to a May 25 <a href=\"https:\/\/twitter.com\/binance\/status\/1661649462387957760?s=20\">tweet<\/a> from Binance, the exchange said the decision would affect some assets deposits with blockchain networks like Fantom (<a href=\"https:\/\/cryptoslate.com\/coins\/fantom\/\">FTM<\/a>), BNB Smart Chain, Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>), and Avalanche (<a href=\"https:\/\/cryptoslate.com\/coins\/avalanche\/\">AVAX<\/a>). This means the exchange users cannot deposit the impacted assets until Binance lifts the restriction.<\/p>\n<p>The impacted assets include POLS-BSC, ACH-BSC, BIFI-FTM, SUPER-BSC, AVA-ETH, SPELL-AVAXC, ALPACA-FTM, FTM-ETH, FARM-BSC, and DEXE-BSC.<\/p>\n<p>However, deposits for these assets remain open on other networks.<\/p>\n<h2>Multichain blames transaction delays on &#8216;force majeure'<\/h2>\n<p>In a May 24 <a href=\"https:\/\/twitter.com\/MultichainOrg\/status\/1661443109019062272\">tweet<\/a>, the Multichain team said most of its cross-chain routes were functioning well. However, it blamed the unavailable routes on &#8220;force majeure,&#8221; adding that it does not know when services would resume.<\/p>\n<p>&#8220;After service is restored, pending transactions will be credited automatically,&#8221; it stated in the tweet. The protocol added that it would institute a compensation plan for the affected users but did not include details.<\/p>\n<p>Some Multichain users have <a href=\"https:\/\/twitter.com\/wublockchain\/status\/1661323197265084421?s=46&t=aw6ZR-6aD050XLPVXY8AQA\">reported<\/a> that their funds have been stuck in transit for three days. Growing <a href=\"https:\/\/twitter.com\/0xfleet\/status\/1661331752210804736?s=20\">rumors<\/a> suggest Chinese authorities may have arrested members of the Multichain team, further exacerbating the protocol's situation.<\/p>\n<p>Multichain was yet to provide information surrounding its team leadership at the time of writing.<\/p>\n<h2>MULTI decreased by 13%<\/h2>\n<p>The uncertainty surrounding the protocol has contributed to a more than 13% decrease in the value of its token. On May 24, the token topped <em>CryptoSlate<\/em> &#8216;s top losers list after falling more than 27% as <a href=\"https:\/\/cryptoslate.com\/whales-offload-multichain-as-network-suffers-delayed-transactions\/\">several whales dumped it<\/a>.<\/p>\n<p>Within the past 24 hours, Lookonchain, a blockchain analytics platform, <a style=\"border-bottom: 0px;\" href=\"https:\/\/twitter.com\/lookonchain\/status\/1661403605088477184?s=20\">reported<\/a> that crypto entrepreneur Justin Sun has withdrawn 469,908 USDD from Multichain.<\/p>\n<p><span class=\"r-18u37iz\"><a href=\"https:\/\/cryptoslate.com\/whales-offload-multichain-as-network-suffers-delayed-transactions\/\">Other whales<\/a>, including HashKey Group and Fantom Foundation, moved $250,000 worth of MULTI and <\/span>450,000 units of MULTI <span class=\"r-18u37iz\">($2.4 million), respectively.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchange Binance has announced a temporary suspension of deposits for ten Multichain-bridged (MULTI)\u00a0 tokens, pending further clarification from the protocol&#8217;s team. According to a May 25 tweet from Binance, the exchange said the decision would affect some assets deposits with blockchain networks like Fantom (FTM), BNB Smart Chain, Ethereum (ETH), and Avalanche (AVAX). This [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":328442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,77968],"tags":[77282,77811,78563],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance temporarily suspends deposits for 10 Multichain-bridged tokens<\/title>\n<meta name=\"description\" content=\"Multichain blamed the protocol&#039;s unavailable cross-chain routes on &quot;force majeure.&quot; Its MULTI token is down 13%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-temporarily-suspends-deposits-for-10-multichain-bridged-tokens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance temporarily suspends deposits for 10 Multichain-bridged tokens\" \/>\n<meta property=\"og:description\" content=\"Multichain blamed the protocol&#039;s unavailable cross-chain routes on &quot;force majeure.&quot; Its MULTI token is down 13%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/binance-temporarily-suspends-deposits-for-10-multichain-bridged-tokens\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-25T14:05:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-25T15:09:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/multichain-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/binance-temporarily-suspends-deposits-for-10-multichain-bridged-tokens\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/binance-temporarily-suspends-deposits-for-10-multichain-bridged-tokens\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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