After the CEO of Multichain was arrested by the Chinese police and the developer team announced that Multichain would be shut down, the most affected from altcoins one who Phantom (FTM) made an official statement.
Fantom has announced that it has frozen $60 million worth of stablecoins in response to the arrest of Multichain’s CEO and the subsequent shutdown of its protocol.
The shutdown affected several projects that rely on Multichain for cross-chain transactions, including Fantom.
In an official statement, Fantom said it was “deeply disappointed” by the news and was working to protect its users and partners from potential loss.
In the statement, three of Phantom’s most popular stablecoins USDC, USDT And of TUSD It is stated that it has contacted the issuers and confirmed that they have frozen the assets in their Multichain wallets.
Fantom also said it is in contact with various sources and Multichain employees to gain more clarity on the situation and provide support where possible.
The statement also stated that Fantom will be making further announcements in the coming weeks about its plans to help the community and developers at Opera Chain.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!