The cross-chain bridge simply serves as a method of bidirectionally transferring ERC20/BEP20 tokens between the Ethereum Network and Binance Smart Chain network in a quick and cost-efficient manner. Initially, the Multichain project attributed the disruption to technical complications. This is a unique solution to build an application built between Binance Smart Chain and Ethereum. Several of Multichain’s cross-chain bridge routes, encompassing Kava (CRYPTO: KAVA), zkSync, and Polygon (CRYPTO: MATIC) zkEVM, are yet to be restored.
This temporary halt trails a five-day crisis that Multichain users endured, severely affecting transaction processing and resulting in numerous stalled transactions. We'll be temporarily suspending deposits for the following bridged tokens-network while we await clarity from the Multichain team.ĭeposits of the above assets on other networks are… The list includes tokens like AVA-ETH, SPELL-AVAXC and FTM-ETH.īinance stated that deposits of these digital assets on alternative networks are unaffected, and users should consult the exchange's deposit page for more details.Īlso Read: Sam Altman's Worldcoin Secures $115M In VC, Hopes To Grow From 2M Users To Billionsīinance made a public statement noting, "We are temporarily suspending deposits for the following bridged tokens-network while we await clarity from the Multichain team." Tokens impacted by this suspension are primarily used on the BNB Smart Chain (CRYPTO: BNB), Fantom (CRYPTO: FTM), Ethereum (CRYPTO: ETH), and Avalanche (CRYPTO: AVAX) blockchain networks. Cryptocurrency exchange Binance has temporarily halted deposits of 10 specific tokens Thursday, a move prompted by ongoing problems with the Multichain Bridge initiative.
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