$1.5 billion of assets still locked in the Multichain protocol have reportedly been confiscated by Chinese police as part of a money-laundering investigation. However, one source suggests that this is just the latest face of police embezzlement in the country.
The sudden activity on Zhaojun He's Telegram account has fueled speculation among Multichain’s users. Amidst a backdrop of legal and operational crises, the company’s future remains uncertain.
The sudden activity on Zhaojun He's Telegram account has fueled speculation among Multichain’s users. Amidst a backdrop of legal and operational crises, the company’s future remains uncertain.
$1.5 billion of assets still locked in the Multichain protocol have reportedly been confiscated by Chinese police as part of a money-laundering investigation. However, one source suggests that this is just the latest face of police embezzlement in the country.
Multichain saw significant outflows yesterday causing fears of an exploit, as the team urged users to revoke all contracts until further notice. Meanwhile, CEO Zhaojun hasn’t been seen since the end of May, with rumors at the time suggesting he may have been arrested in China.
