{"id":79338,"date":"2023-05-25T16:53:07","date_gmt":"2023-05-25T13:53:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79338"},"modified":"2025-09-11T10:27:59","modified_gmt":"2025-09-11T07:27:59","slug":"binance-suspends-deposits-of-10-tokens-amid-multichain-issues","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-suspends-deposits-of-10-tokens-amid-multichain-issues\/","title":{"rendered":"Binance suspends deposits of 10 tokens amid Multichain issues"},"content":{"rendered":"<p>The cryptocurrency exchange Binance has temporarily suspended deposits of bridged tokens POLS, ACH, BIFI, SUPER, AVA, SPELL, ALPACA, FTM, FARM, and DEXE due to issues in the Multichain cross-chain protocol network.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">We&#8217;ll be temporarily suspending deposits for the following bridged tokens-network while we await clarity from the Multichain team.<\/p>\n<p>POLS-BSC<br \/>ACH-BSC<br \/>BIFI-FTM<br \/>SUPER-BSC<br \/>AVA-ETH<br \/>SPELL-AVAXC<br \/>ALPACA-FTM<br \/>FTM-ETH<br \/>FARM-BSC<br \/>DEXE-BSC<\/p>\n<p>Deposits of the above assets on other networks are\u2026<\/p>\n<p>\u2014 Binance (@binance) <a href=\\\"https:\/\/twitter.com\/binance\/status\/1661649462387957760?ref_src=twsrc%5Etfw\\\">May 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The suspension applies only to the assets issued on the Ethereum, BNB Chain, Avalanche and Fantom networks. Deposits of the same tokens from other blockchains remain open.<\/p>\n<p>Representatives of the platform added that they expect clarification from the Multichain team.<\/p>\n<p>The problem emerged in the protocol on May 21, when users began reporting stalled transactions. The developers <a href=\"https:\/\/forklog.com\/en\/news\/multichain-token-plunges-28-amid-network-glitches\">stated<\/a> that the fault occurred during maintenance work on the cross-chain router nodes.<\/p>\n<p>Subsequently, the Multichain team <a href=\"https:\/\/forklog.com\/en\/news\/multichain-to-compensate-users-affected-by-force-majeure\">promised compensation<\/a> to those affected by the \u201cforce majeure.\u201d According to the statement, most inter-network routes are operating normally. However, some are still unavailable, and the timing of the resumption of service is unknown.<\/p>\n<p>Against the backdrop of Multichain issues, the native MULTI token <a href=\"https:\/\/forklog.com\/en\/news\/multichain-token-plunges-28-amid-network-glitches\">fell almost 30%<\/a>. Then many major investors began withdrawing to sell their assets. One of them sent 494,200 MULTI to the Gate.io exchange (~$2.75 million).<\/p>\n<p>Fantom Foundation also expressed concern and withdrew 450,000 protocol tokens (~$2.4 million) from the liquidity pool on the decentralized exchange SushiSwap.<\/p>\n<p>Andre Cronje, the director of the organization <a href=\\\"https:\/\/www.theblock.co\/post\/232188\/andre-cronje-fantom-foundation-multichain-situation\\\">stated<\/a>, that the foundation withdrew funds for security reasons.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThere is no sense in a liquidity pool in times of uncertainty,\u201d he added. <\/p>\n<\/blockquote>\n<p>According to him, the foundation did not sell any MULTI tokens, but merely withdrew them from SushiSwap. The Fantom Foundation is monitoring further developments.<\/p>\n<p>In April, Binance <a href=\"https:\/\/forklog.com\/en\/news\/binance-to-update-deposit-addresses-for-some-users\">updated<\/a> the deposit addresses of some users. The company said the move was part of wallet infrastructure improvement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance has temporarily suspended deposits of bridged tokens POLS, ACH, BIFI, SUPER, AVA, SPELL, ALPACA, FTM, FARM, and DEXE due to issues in the Multichain cross-chain protocol network.<\/p>\n","protected":false},"author":1,"featured_media":79339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,2277],"class_list":["post-79338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-multichain"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79338"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79338\/revisions"}],"predecessor-version":[{"id":79340,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79338\/revisions\/79340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79339"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}