{"id":81284,"date":"2023-07-05T16:19:04","date_gmt":"2023-07-05T13:19:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81284"},"modified":"2025-09-11T21:55:41","modified_gmt":"2025-09-11T18:55:41","slug":"binance-to-suspend-support-for-multichain-linked-tokens","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/binance-to-suspend-support-for-multichain-linked-tokens\/","title":{"rendered":"Binance to suspend support for Multichain-linked tokens"},"content":{"rendered":"<p>From July 7, the cryptocurrency exchange Binance <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/updates-on-the-suspension-of-deposits-withdrawals-for-multichain-bridged-tokens-3c7d279dd37043bd8290ac718b5c08a4\">will suspend<\/a> deposits and withdrawals of several tokens following the May incident with the cross-chain project Multichain.<\/p>\n<p>The suspension affects coins created by the problematic protocol across networks:<\/p>\n<ul class=\"wp-block-list\">\n<li>Polkastarter (POLS) on BNB Chain;<\/li>\n<li>Alchemy Pay (ACH) on BNB Chain;<\/li>\n<li>SuperVerse (SUPER) on BNB Chain;<\/li>\n<li>Harvest Finance (FARM) on BNB Chain;<\/li>\n<li>Travala (AVA) on Ethereum;<\/li>\n<li>Spell Token (SPELL) on Avalanche;\u00a0<\/li>\n<li>Beefy.Finance (BIFI) on Fantom Network;<\/li>\n<li>Alpaca Finance (ALPACA) on Fantom Network.<\/li>\n<\/ul>\n<p>Binance did not specify the reason for its decision. The measure will remain in effect until the exchange issues the next notice.<\/p>\n<p>Representatives added that users can still deposit and withdraw the affected tokens through other networks supported by the exchange.<\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/protocol\/multichain\">DeFi Llama<\/a>, as of this writing the total value locked in Multichain stood at $1.3 billion. Of this, $698 million is on Ethereum, $339 million on BNB Chain, and $92 million on Fantom.<\/p>\n<p>The first technical problems at Multichain <a href=\"https:\/\/forklog.com\/en\/news\/multichain-token-plunges-28-amid-network-glitches\">began on May 21<\/a>. Users complained about transactions stuck in the blockchain due to an error during a network upgrade.<\/p>\n<p>Against the backdrop of the malfunctions, Binance <a href=\"https:\/\/forklog.com\/en\/news\/binance-suspends-deposits-of-10-tokens-amid-multichain-issues\">suspended<\/a> deposits of the tokens POLS, ACH, BIFI, SUPER, AVA, SPELL, ALPACA, FTM, FARM and DEXE.<\/p>\n<p>The cross-chain protocol developers promised <a href=\"https:\/\/forklog.com\/en\/news\/multichain-to-compensate-users-affected-by-force-majeure\">compensation<\/a> to users affected by the &#8216;force majeure&#8217;. Despite the continuing uncertainty around the project, a few days later MULTI <a href=\"https:\/\/forklog.com\/en\/news\/multichain-token-price-jumps-36-amid-ongoing-uncertainty\">surged 36%<\/a>.<\/p>\n<p>Earlier in June, Multichain vice president Tung Din <a href=\"https:\/\/forklog.com\/en\/news\/multichain-developers-fix-flaw-in-protocol\">said<\/a> that Router 2, the cross-chain bridge whose failure caused the problems, had resumed operation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From July 7, Binance will suspend support for deposits and withdrawals of several tokens following the May incident with the cross-chain project Multichain.<\/p>\n","protected":false},"author":1,"featured_media":81285,"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-81284","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":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81284","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=81284"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81284\/revisions"}],"predecessor-version":[{"id":81286,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81284\/revisions\/81286"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81285"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}