The team has done everything possible to keep the protocol running, but they are currently unable to contact CEO Zhaojun and obtain the necessary server access for maintenance.
Multichain is a cross-chain bridge protocol that allows users to transfer assets between different blockchains. It is a decentralized protocol, meaning it is not controlled by any one entity.
It uses a variety of techniques to ensure the security and reliability of its platform, such as stakes, liquidity pools, and smart contracts. It is a popular tool for DeFi users and is designed to scale to meet the needs of a growing user base.
Multichain has decided to suspend its cross-chain services for several chains due to an issue with its Router5 scanning node network. The issue is beyond the team’s current permissions and ability to resolve, so they have taken the precautionary measure of suspending services for the affected chains on the UI. This includes Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq.
Multichain has requested that users stop directly calling the Multichain protocol smart contracts on/to the affected chain for cross-chain operations. They apologize for the inconvenience and are working to resolve the issues as soon as possible. They have also stated that they will conduct a full audit of their systems to prevent similar issues from happening in the future.
The recent issues with the Multichain protocol have raised concerns about the security and reliability of the platform. However, Multichain has assured its users that they are working hard to resolve the issues and that the platform remains safe to use.