In the announcement, Binance recognized the inconvenience caused and highlighted that the halting of support is a direct consequence of the ongoing challenges faced by the Multichain protocol.Ī representative from Binance stated that the temporary suspension of deposit and withdrawal services for the listed tokens is a risk management measure aimed at safeguarding users’ funds. #Binance will suspend deposits and withdrawals for a number of Multichain-bridged tokens from July 7, 00:00 UTC until further notice. This decision to cease support impacts users utilizing bridged tokens on networks such as BNB Smart Chain, Fantom, Ethereum and Avalanche. This news comes after deposits for various Multichain-bridged tokens were previously suspended on May 25, 2023, following days of stalled transactions that sparked uncertainty surrounding the Multichain protocol. The decision impacts users utilizing bridged tokens on networks such as BNB Smart Chain, Fantom, Ethereum and Avalanche.Ĭryptocurrency exchange Binance has announced it is ending deposit and withdrawal support for a range of Multichain-bridged tokens, effective from July 7, 2023, until further notice.īinance officially stated in its blog that the tokens impacted by the decision are Polkastarter (POLS), Alchemy Pay ( ACH), SuperVerse (SUPER) and Harvest Finance (FARM) via the BNB Smart Chain Beefy Finance (BIFI) and Alpaca Finance (ALPACA) via the Fantom network (AVA) via Ethereum and Spell Token (SPELL) via the Avalanche C-Chain.
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