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News Explorer — Fear Over Multichain Bridge Fallout Extends to Fantom

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May 25, 8:28 pm
Decrypt

Fear Over Multichain Bridge Fallout Extends to Fantom

Rumors of Chinese authorities arresting Multichain team members and seizing a wallet containing $1.6 billion have caused companies to take action. Binance has suspended withdrawals for several of the bridge’s tokens, while Fantom has withdrawn $2.4 million worth of MULTI tokens from SushiSwap. On-chain data shows deposits exceeding withdrawals by $18 million, but the situation is still uncertain.

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