Binance to Suspend Support for Multichain-related Tokens

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Binance has announced that from July 7, support for the deposit and withdrawal of multiple tokens, due to an issue with the Multichain cross-chain project in May, will be suspended.

These affected coins, which were created by the malfunctioning protocol on various blockchains, include Polkastarter (POLS) on BNB Chain; Alchemy Pay (ACH) on BNB Chain; SuperVerse (SUPER) on BNB Chain; Harvest Finance (FARM) on BNB Chain; Travala (AVA) on Ethereum; Spell Token (SPELL) on Avalanche; Beefy.Finance (BIFI) on Fantom Network; and Alpaca Finance (ALPACA) on Fantom Network.

Binance has yet to provide an explanation for this decision, which will stay in effect until they otherwise advise.

This restriction does not apply to deposits and withdrawals on other networks supported by the exchange.

According to DeFi Llama, at present, the amount of capital blocked in the Multichain network totals $1.3 billion, of which $698 million is in Ethereum, $339 million is in BNB Chain, and $92 million is on Fantom.