Binance has announced the temporary suspension of support for eight Multichain-bridged (MULTI) tokens

The exchange will be temporarily unable to deposit or withdraw digital assets associated with eight tokens.

The affected tokens include Polkastarter (POLS), Alchemy Pay (ACH), Beefy.Finance (BIFI), SuperVerse (SUPER), Travala (AVA), Spell Token (SPELL), Alpaca Finance (ALPACA), and Harvest Finance (FARM).

Binance, a prominent cryptocurrency exchange, has announced the temporary suspension of support for eight Multichain-bridged (MULTI) tokens starting from July 7. The decision is a result of issues encountered with certain cross-chain routes within the protocol.

According to an update shared on July 5, Binance users will be unable to deposit or withdraw digital assets associated with 8 tokens. However, the exchange clarified that deposits for these assets will still be allowed on other compatible networks.

Binance to cease support of 8 multichain tokens

Binance announced that the temporary suspension will be effective from July 7, 2023, until further notice. The decision comes in response to recent developments with the Multichain (MULTI) protocol.

The affected tokens and their respective networks are as follows:

Polkastarter (POLS) via BNB Smart Chain

Alchemy Pay (ACH) via BNB Smart Chain

Beefy.Finance (BIFI) via Fantom Network

SuperVerse (SUPER) via BNB Smart Chain

Travala (AVA) via Ethereum Network

Spell Token (SPELL) via Avalanche C-Chain

Alpaca Finance (ALPACA) via Fantom Network

Harvest Finance (FARM) via BNB Smart Chain

Deposits for these tokens were previously suspended on May 24, 2023, following the issues encountered with the Multichain protocol. Binance acknowledges any inconvenience caused by this situation.

However, users will still have the ability to deposit or withdraw the affected tokens via other networks supported by Binance.

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Filed under: Bitcoin - @ July 5, 2023 6:08 pm