• Multichain (MULTI) is a cross-chain protocol that has halted operations following the arrest of its CEO, Zhaojun.
• All protocol nodes and ordinary servers were running under the detained CEO’s personal account and operational funds were also in his control.
• The protocol team had limited access to information since May and have been unable to operate without Zhaojun’s help.

Multichain Halts Operations Following CEO’s Arrest

Protocol Nodes & Servers Under Detained CEO

The cross-chain protocol Multichain (MULTI) has ceased operations after the detainment of its CEO, Zhaojun. All MPC nodes and ordinary servers were running under the CEO’s personal account, while operational funds and investments were in his control as well. As such, since May, access to information about the case was limited for the protocol team who were unable to continue operations without their leader’s help.

No Information About Case

The Multichain team stated that due to lack of information about the case, they could only maintain project operations to their best abilities through any remaining access given during this time. With no further updates available at present regarding Zhaojun’s status or when he may be released from police custody, it is unclear when full operation will resume again for Multichain.

MULTI Plunges 15% Following News

News of Multichain’s shutdown saw MULTI plunge by 15% with traders beginning to question if there would ever be a recovery for this project now that its founder was facing legal issues in China. However, some remain hopeful that once more details become available surrounding the case against Zhaojun, it may give cause for optimism among investors once again.

Project Future Remains Uncertain

At present though, only time will tell what sort of impact this detainment will have on Multichain going forward; whether there will be an eventual recovery or if it signals a permanent end for this project remains uncertain at present.

Chinese Police Take Away Founder

The Chinese police had taken away both Zhaojun and his sister with little information given out regarding why they are currently being detained or for how long they may remain in custody either.