Multichain Concerns Lead To Stargate's New Proposal To Disable Fantom Pool
Stargate proposes to disable Fantom Pool and cross-chain paths due to concerns over the stability of anyUSDC. This proposal aims to mitigate risks by taking several steps, including removing and unwinding anyUSDC POL via Multichain.
Timeline of Fantom, Multichain
Stargate Proposes Disabling Fantom Pool Amid Multichain Issue - Coingape
Stargate, the LayerZero cross-chain bridge protocol, has presented a comprehensive proposal in response to the recent “force majeure” event affecting Multichain and the resulting concerns over the stability of anyUSDC, Fantom's primary USDC asset. With the aim of mitigating risks and ensuring the integrity of its ecosystem, Stargate has laid out a series of strategic
Crypto industry on edge as Multichain's safety concerns deepen - Cryptopolitan
Participants in the crypto ecosystem are on high alert as Multichain's silence fuels worries about the platform's safety. According to reports, key participants in the crypto industry are fortifying their defenses as worries about Multichain, a major platform for transferring assets between different blockchains, mount.
Is Multichain guilty of a rugpull? Binance suspends deposits - Invezz
The MultiChain protocol and its native token, the MULTI, have been in the limelight in today's crypto news following reports of transactions on the Multichain protocol being delayed across multiple cross-chain bridges without a clear explanation. This has led to a huge sell-off that resulted in the MULTI price dropping by 20% at press time.
Multichain (MULTI) Down 23% as Fears of Rugpull Swell: Details - UToday
MULTI, the native digital currency of the Multichain cross-chain protocol, is seeing the most dominant negative price actions today after plunging as much as 23% over the past 24 hours. With the price slump, the cryptocurrency is trading at a price of $3.88, but with significant Fear, Uncertainty and Doubt (FUD) in the community.
Fantom (FTM) in Serious Danger: Here's Main Reason - UToday
Fantom (FTM), a high-speed scalable blockchain network, is facing a precarious situation due to its significant exposure to Multichain, its official cross-chain bridge. A substantial portion of the total value locked (TVL) on the Multichain network comes from Fantom, raising concerns regarding the potential impact of recent developments.
Fantom Network Holds Strong With 36.7% TVL Despite Multichain Arrest Rumors - Coincu
Fantom Network, accounting for the highest proportion of Multichain's TVL, has not experienced significant outflow despite the Multichain arrest rumors and lack of communication from the team.
Fantom Foundation Withdraws Funds from Multichain Amidst Uncertainty - Cryptopolitan
In a recent development, Fantom Foundation, led by Director Andre Cronje, has chosen to withdraw its funds from liquidity pools on the popular decentralized exchange, SushiSwap. This decision comes in response to the ongoing uncertainty surrounding the Multichain protocol.
Multichain Team's Deafening Silence Sparks Concern Among Users - Crypto Daily
The silence emanating from Multichain's leadership has amplified rumors, leading to significant unease and uncertainty among protocol users. At present, several of Multichain's cross-chain pathways remain down, leading to a major pile-up of transactions on the protocol.
Fantom, the Most Impacted Blockchain in Multichain Crisis - Coingape
A rug-pull kind of incident at the Multichain protocol has sent shockwaves across the crypto market. A staggering $1.8 billion in multichain wallets have been locked and rumors have it that the Chinese authorities have arrested Multichain team members with law enforcement taking control over the wallets.
FUD Or Fact? Multichain Team Arrested, On-Chain Data Uncovers Fantom Exposure To Wrapped Tokens - NewsBTC
Rumors of the arrest of the Multichain team have sent shockwaves throughout the Fantom ecosystem. Despite trading volumes of $129 million, the fear, uncertainty, and doubt (FUD) have resulted in a 5x increase in daily bridging volumes.