Multichain, the cross-chain protocol, has encountered significant hurdles as its team struggles to establish communication with its chief executive officer (CEO), Zhaojun. The protocol has been grappling with unforeseen circumstances, leading to a series of technical problems over the past two days. The team made this revelation through an official statement posted on their Twitter account.
The inability to reach CEO Zhaojun has posed challenges for Multichain, as it requires necessary server access for maintenance purposes. In light of this predicament, the protocol has made the decision to suspend the corresponding cross-chain services for several affected chains on its user interface (UI). The affected chains include Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq.
This unexpected turn of events has raised concerns within the crypto community, especially considering Multichain’s prominence in the cross-chain ecosystem. Investors and users of the platform have been left uncertain about the future of the protocol and the progress of ongoing technical issues.
The lack of communication with the CEO has further fueled rumors and speculations surrounding the protocol’s stability and the reasons behind the CEO’s unavailability. Multichain’s team has not provided any additional details regarding the nature of the unforeseen circumstances or a timeline for resolving the ongoing problems.
The cross-chain protocol’s challenges come at a time when the cryptocurrency market is experiencing heightened volatility and increased scrutiny from regulators worldwide. Such issues can have a significant impact on the reputation and adoption of blockchain projects.