Binance has indefinitely suspended support for several multichain-bridged tokens. This will be effective on July 7. They will no longer be able to deposit or withdraw on the Binance platform.
Reason For Binance
Some cross-chain routes of the Multichain Protocol became unavailable due to force majeure, with an unknown timing of service restoration. This is not the first time this has happened. On May 24, Binance ended support for several multichain-bridged tokens.
Effected -
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
Not a Problem
Investors need not worry about the Multichain token problem, as not all multichains are affected by it. Multichain (MULTI) has decided to compensate users who will be affected by the unavailability of any multichain.
Binance is Vigil
Recently, fake tokens were minted on various networks by hacking the Poly network; Binance did not accept those BUSD and BNB, which were minted on the Metis blockchain; otherwise, both of these tokens would have collapsed like UST and LUNA. It is necessary to take care of different circumstances.
