Cryptocurrency Analysis and News Portal
With information hard to come by, some crypto projects began informing their communities Thursday that they were unaffected by the "potential exploit" of Multichain. "As of right now, Abracadabra is not affected by the possible Multichain exploit, we are investigating with the involved parties to learn more," the team behind
Read More
Zero-knowledge proofs (ZK-proofs) are a key technology explored by many in the crypto industry. A zero-knowledge protocol is a cryptographic method that allows one party to prove to another party that something is true without revealing any information. The technology is vital for Ethereum layer-2 solutions to achieve blockchain scalability, and
Read More
Storage proofs, a feature that could minimize cross-chain exploits by allowing users to keep their assets on one chain and prove that it's there on a different chain, will go live on Starknet soon. Source
Read More
On Wednesday, the decentralized exchange (DEX) Beethoven X sent $300,000 in treasury stablecoins from Fantom to Ethereum; protocol builder Byte Masons did the same with ether (ETH) and USD coin (USDC) it used in trading pools. Earlier this week, DeFi yield farm Beefy sent $200,000 in tokens owned by Binance
Read More
Centralized crypto exchange Gate.io denied rumors of illiquidity on May 31, stating that “there are no issues with our operations or withdrawals as rumored.” The statement comes after numerous Twitter channels had alleged that the exchange was experiencing insolvency due to an alleged connection between it and the cross-chain router
Read More
Cross-chain protocol Multichain revealed on May 31 that its team has been unable to contact its CEO, Zhaojun, fueling rumors that the protocol’s leadership may have been arrested in China amid ongoing technical issues. “The team has done everything possible to maintain the protocol running, but we are currently unable to
Read More
Multichain has suffered days of issues amid swirling rumors over the fate of its team. Source
Read More
Top Stories This Week Binance suspends deposits for bridged tokens, seeks clarity from Multichain team Crypto exchange Binance suspended deposits for 10 bridged tokens following days of uncertainty surrounding the Multichain protocol. Transactions on the cross-chain protocol have been
Read More
Like most bridges, Multichain uses a mint-and-lock mechanism to move assets between the 92 blockchains it interacts with. For example, if a holder of USDC stablecoin bridges the asset from Ethereum to Fantom via Multichain, the token gets locked up in a smart contract on Ethereum and then issued anew
Read More
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In response to a series of transaction issues that raised concerns about the Multichain (MULTI) protocol, leading crypto exchange Binance has temporarily suspended deposits for 10 bridged tokens as of May 25. Affected token pairs include polkastarter
Read More