Binance, one of the leading cryptocurrency exchanges, revealed that it would temporarily suspend deposits for several bridged tokens-network. The decision comes as Binance awaits clarity from the Multichain team, which cited force majeure as the reason behind the unavailability of certain cross-chain routes. The development has sparked speculation, as the founder of Multichain remains unreachable and is suspected to be under investigation.
Binance made the announcement via their official Twitter handle, stating, “We’ll be temporarily suspending deposits for the following bridged tokens-network while we await clarity from the Multichain team.” The tokens affected by the deposit suspension include POLS-BSC, ACH-BSC, BIFI-FTM, SUPER-BSC, AVA-ETH, SPELL-AVAXC, ALPACA-FTM, FTM-ETH, FARM-BSC, and DEXE-BSC.
force majeure has led to the disruption of cross-chain routes, which is the underlying cause for Binance’s decision to suspend deposits. Force majeure refers to unforeseen circumstances or events that are beyond the control of the parties involved and can hinder the fulfillment of contractual obligations. While the exact details surrounding this force majeure event are yet to be disclosed, its impact on the cryptocurrency market is significant.