You are currently viewing Binance, Other Crypto Players Shun Multichain as Bridging Rumors Swirl

Key players in the crypto ecosystem are shoring up their defenses amid growing concerns over the state of Multichain, a major venue for moving assets between different blockchains.

Four days after apparent technical issues started throttling some users’ ability to withdraw tokens from the protocol, wild rumors over Multichain’s safety and the fate of its team are filling the void created by the platform’s silence. A single tweet blaming some cross-chain breaks on “force majeure” has only added fuel to the widespread speculation that something is amiss.

The light-on-facts landscape is pushing a growing number of entities to mitigate risk now – regardless of Multichain’s true state. Their responses are highlighting how crypto bridges create the potential for a world of hurt that goes well beyond the flashiest and well-trodden risk to bridges

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