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The MultiChain protocol and its native token, the MULTI, have been in the limelight in today’s crypto news following reports of transactions on the Multichain protocol being delayed across multiple cross-chain bridges without a clear explanation. This has led to a huge sell-off that resulted in the MULTI price dropping by 20% at press time.
A crypto wallet linked to Fantom Foundation reportedly withdrew 449,740 MULTI tokens worth about $2.4 million from liquidity on the decentralized exchange SushiSwap. The sell-off was further fuelled by a tweet that purported that the “multichain team has been arrested by the Chinese police, with 1.5 billion dollars of contract funds under control.”
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