Multichain Shuts Down After CEO’s Sister Allegedly Moves $220 Million

• Multichain, a leading cross-chain router protocol, has announced the arrest of its CEO Zhaojun and his sister.
• Zhaojun’s sister was reportedly tampering with users’ funds, causing the company to shut down operations.
• The team at Multichain has agreed to cooperate with legal authorities and has refrained from disclosing unauthorized information about the case.

Multichain Shuts Down

Multichain, a leading cross-chain router protocol, has recently hit rock bottom after a series of unfortunate events. The organization is most known for facilitating and deploying blockchain applications with speed, but is now forced to shut down operations due to the arrest of its CEO Zhaojun by Chinese officials.

CEO Detained

Zhaojun was taken away by police officials from his home on May 21st and has been out of contact with Multichain ever since. Furthermore, it was revealed that all operational access keys to MPC node servers had been revoked as they were running under Zhaojun’s personal cloud server account. No member of the team had access to this account so nobody could log onto those servers.

Sister Involved

After gaining access to Zhaojun’s family, it was discovered that all of his properties were confiscated by authorities and all funds/investments from the firm (including the team’s) were still in his possession. It is also suspected that his sister may have tampered with users‘ funds which led to her being taken into custody as well.

Cooperating With Legal Authorities

In an effort to cooperate with legal authorities, Multichain has agreed not to disclose any unauthorized information about the case publicly while they try and operate their platform as designed during this difficult time.

Moving Forward

Although no further details have been released yet regarding this situation, it seems like things are not looking too good for Multichain right now and we will have to wait until more information emerges before any sort of conclusion can be reached concerning their future plans or actions moving forward.