The Multichain team officially revealed the whole back-end game behind the Multichain technical issue and confirmed that all the news & rumours related to Multichain CEO were 100% true.
Multichain is a centralised protocol, which allows several crypto platforms to transfer one crypto token from one network to another crypto network. In the last two months, Multichain grabbed huge bad attention, as the platform was not perfectly providing its cross-chain services.
On 14 July 2023, The Multichain team officially shared the whole incident that happened behind the doors of the internet world.
The team confirmed that Multichain CEO Zhaojun was arrested by Chinese police on 21 May and after that Multichain & Multichain CEO’s family is not able to contact him directly or indirectly.
To depress the panic among the Multichain users, the back-end team tried to hide the whole incident and maintained the majority of the operations on behalf of the password history of Zhaojun’s cell phones.
The Multichain team confirmed that all major funds & control passwords are in the hands of the Multichain CEO and no one can access them except Zhaojun or the Chinese police, as he is in police custody. In this situation, the Multichain domain is also not under the control of the Multichain team.
On the suspicious crypto transactions linked with Multichain Protocol, the team said that it was a suspicious transaction but the rest of the fund was secured on another wallet by Zhaojun’s sister.
Strangely, the Chinese police also detained Zhaojun’s sister and now she is also out of contact with any person.
So here the whole situation is at risk and here no one can tell exactly what will happen. To keep any other risks away, the Multichain team urged people to share this information in the crypto community as much as possible, so that people should remain away from the Multichain platform use.
Read also: Binance reduces 1,000 workforce strength: Report
Multichain team officially admitted Multichain CEO detained by Chinese police
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