Coinbase, Leading US Crypto Exchange, to End Trading for Multichain (MULTI) and 5 Altcoins
Coinbase, Top US Crypto Exchange, Announces Suspension of Multichain (MULTI) Trading from September 6th.
"Coinbase to Suspend Multichain (MULTI) Trading Amid Protocol's Challenges"
Following Multichain's recommendation for users to halt its services, Coinbase announces a suspension in trading the asset. Earlier, the protocol faced turmoil when its team lost contact with CEO Zhao Jun during technical difficulties.
"Despite efforts to keep the protocol operational, we've been unable to reach CEO Zhaojun for server access," the team stated.
Furthermore, cybersecurity company PeckShield disclosed a breach last month where malefactors extracted $126 million from Multichain’s Fantom (FTM) bridge, leading the developers to halt the project. "All bridge transactions are halted, and there's no set time for resumption. Please refrain from using Multichain's bridging service," they cautioned.
Coinbase emphasizes its commitment to reviewing listed cryptocurrencies for adherence to standards. Following a recent evaluation, trading support for five other assets, including BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Ooki (OOKI), and Voyager (VGX), will also cease across all Coinbase platforms.
Aug 26, 2023