In the last 24 hours, the trade volume of Multi token surged by nearly 5,100% following some unconfirmed reports about Multichain CEO Zhaojun & price manipulation.
Multichain Protocol is a centralised platform that provides interoperability between huge numbers of crypto networks. In May of this year, the Multichain Protocol CEO Zhaojun was arrested by Chinese police. Zhaojun was holding the majority of the key control of the protocol which created a very big problem for the project team to maintain all the services under the Multichain umbrella. On 14 July 2023, the Multichain team officially suggested people not use the Multichain Protocol. As per the Multichain team, Zhaojun’s sister also tried to maintain the MultiChain linked funds safety but later she was also detained by the police. So far no information is available about the Multichain CEO & his sister.
In the last 12 hours of the period, the trade price of Multi token surged by nearly 100% and the trade volume surged by nearly 5,100% in the same time frame.
At the time of publication of this report, no news came about this protocol from the official sources.
Some people are speculating that Zhaojun is now out of police custody & now ready to handle the project operations in better ways.
While the majority of the crypto experts said that some bad actors are pumping this token with their money power, people are requested to remain away from this trap.
The Bitcoinik team also suggests that readers share this information with friends & keep investments away from the Multi token project, as the official team didn’t pass any kind of statement or update about Zhaojun.