Bad! Binance Stops Depositing & Withdrawing These 10 Tokens!

<p>&nbsp;"Damn, how come it's like this?"</p><p><br /></p><p>Cryptocurrency giant Binance is set to halt all deposits and withdrawals for the ten Multichain-bridged* tokens that were previously part of its deposit suspension after certain transactions on the Multichain (MULTI) protocol were frozen in May 2023.</p><p><br /></p><p>*Decentralized applications that enable the transfer of assets and information between different blockchains</p><p><br /></p><p>The ten tokens are connected to Binance Chain, Ethereum (ETH), Avalanche (AVAX) and Fantom (FTM), but users can still withdraw them through other networks supported by Binance.</p><p><br /></p><p>The problems plaguing Multichain's cross-chain bridge began in late spring after users flooded their Telegrams with complaints that their transfers were not only delayed but blocked.</p><p><br /></p><p><br /></p><p>At the time, there were rumors that the Chinese authorities had detained several Multichain executives including Chief Executive Officer (CEO) Zhaojun but he later disappeared and remains a mystery to this day.</p><p><br /></p><p>Following a lot of negative news surrounding the cross-chain bridge due to its vulnerability, ETH co-founder Vitalik Buterin has warned investors not to rely entirely on the cross-chain bridge.</p><p><br /></p><p>This is because the cross-chain bridge has been the target of crypto hackers including the Multichain protocol after some hackers took $3 million from Multichain in early 2022, but whitehat hackers** acted to return $900,000.</p><p><br /></p><p>*Individuals who use hacking skills to identify security weaknesses in hardware, software or networks</p><p><br /></p><p>After the attack, Binance led a $150 million funding round to reimburse victims and among the contributors were Animoca, the company behind the crypto game The Sandbox, and tech venture capital firm a16z.</p>