denies liquidity problems after Multichain CEO goes missing

Centralized crypto trade denied rumors of illiquidity on Might 31, stating that “there are not any points with our operations or withdrawals as rumored.” The assertion comes after quite a few Twitter channels had alleged that the trade was experiencing insolvency because of an alleged connection between it and the cross-chain router protocol Multichain (MULTI).

The staff stated the corporate’s “operations are working wholesome” and that it’s centered on establishing an affiliated trading platform in Hong Kong referred to as Gate.HK.

Rumors about’s insolvency erupted after a sequence of occasions referring to Multichain. On Might 24, blockchain analytics agency Arkham Intelligence posted information displaying massive inflows of MULTI to, which Arkham stated was associated to rumors of the protocol’s staff “allegedly being arrested in Shanghai.”

On Might 25, Binance suspended deposits for a number of bridged tokens that relied on the Multichain protocol, together with bridged variations of Polkastarter (POLS), Alpaca Finance (ALPACA), and Fantom (FTM). Binance stated these tokens have been experiencing delayed transactions and quickly paused deposits whereas searching for readability from Multichain.

On Might 31, Multichain posted an announcement that its CEO was missing, including that a number of the protocol’s routers not work as a result of solely the CEO had entry to the related servers. The identical day, some Twitter customers started posting photographs of transactions that have been allegedly massive deposits of FTM from Multichain staff members to

Blockchain information confirms that greater than $10 million of FTM was transferred from an unknown consumer to on Might 25-26. Cointelegraph was not capable of decide the id of the account proprietor performing the transaction.

Associated: Gate Group launches new virtual asset trading platform in Hong Kong

After seeing a number of deposits of MULTI and Fantom to, some Twitter customers suspected that the trade was uncovered to fallout from Multichain.

The staff at has denied these rumors, stating that the trade is processing all withdrawals and working usually.