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According to the announcement made in May, the issues with the Multichain (MULTI) bridge project, which shook the crypto market, have led Binance to act cautiously. The giant crypto exchange had announced that deposit operations were suspended for 10 bridged altcoins on certain networks. Recently, Binance announced that both deposit and withdrawal operations would be suspended for 8 of the altcoins on the said list on certain networks until the next announcement.
Altcoins Affected by the Decision
The world’s largest crypto exchange by volume, Binance, cited problems with the Multichain bridge project as a reason for suspending both deposit and withdrawal operations for 8 bridged altcoins from July 7, 03:00, until the next announcement. The decision affected BNB Smart Chain, Fantom Network, Ethereum, and Avalanche C-Chain networks.
According to the announcement, the bridged altcoins and networks for which deposit and withdrawal operations were suspended are as follows; Polkastarter (POLS) – BNB Smart Chain (BSC), Alchemy Pay (ACH) – BNB Smart Chain (BSC), Beefy Finance (BIFI) – Fantom Network (FTM), SuperVerse (SUPER) – BNB Smart Chain (BSC), Travala (AVA) – Ethereum (ETH), Spell Token (SPELL) – Avalanche C-Chain (AVAXC), Alpaka Finance (ALPACA) – Fantom Network (FTM), and Harvest Finance (FARM) – BNB Smart Chain (BSC).
Deposit and withdrawal operations continue through other networks for the altcoins on the list.
Previously, Deposit Operations were Suspended for 10 Altcoins
Before this announcement, Binance had announced on May 24 that deposit operations were suspended for 10 bridged altcoins, including the 8 bridged altcoins above, on certain networks due to problems with the Multichain bridge project.
This decision affected bridged altcoins on BNB Smart Chain, Ethereum, Fantom, and Avalanche networks. The bridged altcoins whose deposit operations were suspended at that time were announced as POLS-BSC, ACH-BSC, BIFI-FTM, SUPER-BSC, AVA-ETH, SPELL-AVAXC, ALPACA-FTM, FTM-ETH, FARM-BSC, and DEXE-BSC.
