Multichain to compensate users affected by force majeure

The developers of the cross-chain protocol Multichain promised compensation to users affected by a force majeure that caused transactions to stall in the network.

While most of the cross-chain routes of Multichain protocol are functioning well, some of the cross-chain routes are unavailable due to force majeure, and the time for service to resume is unknown. After service is restored, pending transactions will be credited automatically.…

— Multichain (Previously Anyswap) (@MultichainOrg) May 24, 2023

Representatives said most cross-chain routes are operating ‘normally’. However some remain unavailable, and the time to resume service is unknown.

According to Multichain’s statement, once the network is restored, pending transactions will be credited automatically. The project team will present a concrete compensation plan later.

Users started complaining about stalled transfers as early as May 21. In Multichain said that the outage occurred during maintenance work on cross-chain router nodes.

Against the backdrop of network issues, the price of the native MULTI token has fallen by almost 30%. The asset is still holding its position and has not fallen below. As of writing, the coin is trading at $4.99, according to data from CoinGecko.

Earlier in May, the Ethereum blockchain experienced an unknown error that caused transactions to fail to finalize for a period.