Multichain stops operations over lack of funds

Cross-chain protocol Multichain has introduced that it’s “compelled to stop operations” as a result of an absence of operational funds. The announcement follows a report from blockchain analytics agency Chainalysis saying that withdrawals look like a “rug pull” by insiders.

On July 14, Multichain’s official Twitter account introduced that it will be halting its operations. The crew stated {that a} “lack of different sources of knowledge and corresponding operational funds” has compelled it to close down its enterprise actions.

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