Multichain cross chain routes not working as expected
Developers of Multichain, previously known as Anyswap have made an announcement that certain cross chain routes are not available due to uncertain reasons.
The Multichain bridge has lost funds of many when they failed to update their contract to latest token address. Even Zksync was affected and the users were forced to hold what we do not wish to hold, potentially loosing value.
Multichain developers have confirmed that once the service is restored, all pending transactions will be processed and credited to users automatically. There are also plans to compensate users for the affected users.
There are rumors that Multichain developers have been arrested by Chinese authorities, but we can neither confirm nor deny it.
— Viperr (@CryptoSources) May 24, 2023
Our suggestion, withdraw your assets back to Ethereum network as-soon-as you can in case you were exposed to anyAsset. It is wise to take the loss or price impact. Clearly, you would not want to last one out of door in this case.
If this is true, multi signature funds could be at risk. 🤯
— Kamal Singh 👑 (@emphatic) May 25, 2023
Either way, this is not a good news. Multisig funds could be at risk here and it is a well known fact that Multichain has always been a very centralized operation.