There have been striking developments recently in the world of Bitcoin and altcoins. Accordingly, the latest development took place in a cryptocurrency project. The news is interesting. A problem has arisen, such as not being able to reach the CEO of the project. Let’s have a look at the details.
Altcoin CEO unreachable!
Cross-chain protocol Multichain confirmed that due to ongoing technology issues, the team was unable to reach its CEO. In a statement, the team states that the Multichain protocol has experienced a lot of problems in the last two days. It was emphasized that the team is working hard to solve the problems. However, despite all these efforts, the team states that they have not reached the CEO. Accordingly, it is stated that the server access required for maintenance has become impossible. The team also made a call to their partners. Accordingly, its partners were asked not to work on the altcoin Multichain protocol for cross-chain transactions.
The whereabouts of the CEO is still a mystery. As Kriptokoin.com, we are alone with protocol problems as we have mentioned before. On the other hand, news such as the CEO being arrested in China are also on the market. The protocol’s problems have to do with the so-called routers that provide the links between the chains. Two of the routers – Router 2 and now Router 5 – are down, affecting connectivity between chains like Kava, zkSync, and Polygon zkEVM.
The problem exceeds the team
There is another statement made by the team of the cryptocurrency project. The team notes that the latest issue announced today affects a number of chains. Accordingly, for the solution of the problem, the team emphasizes that “this problem is beyond the current permissions and capabilities of the team”. On the other hand, the altcoin project team states that they are doing work to protect the interests of users. Accordingly, the team states in the UI that they have decided to suspend the relevant cross-chain service for the affected chain. In addition, the team emphasizes that a similar problem was experienced in Router2 last week.
An admin on Multichain’s China Telegram channel said users should “wait for Zhaojun to come back.” On the other hand, let’s say that there is a listed coin on Binance for Altcoin. Accordingly, such a development in the crypto money world is expected to present a negative situation for the price. However, a different situation has arisen for Multichain. At the time of writing, the price of the cryptocurrency Multichain token has increased by 7%, according to CoinGecko data. Of course, let’s also say that there is a small volatility for the price. As a result, the crypto money project seems unaffected by the news. Let’s see if he will solve the project problems clearly in the following time periods.
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