Multichain saga screws customers, Binance fires 1,000 employees: Asia Specific

Think about a system the place all of your cash is managed by one man and his household and when there’s trigger for concern, the propaganda machine instantly goes ‘brrr’ to placed on a facade that every thing is simply tremendous regardless of some alarming withdrawls. Sounds extra like a one social gathering state? No, welcome to blockchain, particularly, Multichain.

On July 14, Chinese language decentralized cross-chain bridge protocol Multichain introduced that it might stop operations after three years. The rationale? The one particular person allegedly holding the non-public keys to over $1.5 billion in customers’ crypto saved on Multichain was its co-founder and CEO Zhao Jun and later, his sister (identify unknown). Each had been arrested by Chinese language police but it surely’s nonetheless not clear why.

Proceed Studying on Coin Telegraph