Binance suspends transfers for Multichain-bridged tokens.

  • Binance will stop supporting the deposit and withdrawal of Multichain-bridged tokens Polkastarter (POLS), Alchemy Pay (ACH), Alpaca Finance (ALPACA), and Travala (AVA).
  • These tokens are created on BNB Smart Chain, Fantom, Ethereum, and Avalanche C-Chain.
  • This suspension follows a previous suspension in May due to an incident involving Multichain-bridged tokens.

Binance is temporarily suspending deposits and withdrawals for several tokens connected to the cross-chain router protocol Multichain, according to an announcement made by the crypto exchange on Wednesday.

The suspension of the Multichain-bridged tokens will take effect on July 7 at 00:00 UTC and will remain in place “until further notice,” the crypto giant stated.

At the time of writing, the price of Multichain had decreased by nearly 6% in the past 24 hours and was trading around $3.14.

#Binance will suspend deposits and withdrawals for a number of Multichain-bridged tokens from July 7, 00:00 UTC until further notice.

More details here 👇

— Binance (@binance) July 5, 2023

Polkastarter (POLS), Alchemy Pay (ACH) among affected tokens

In the notice to users, Binance states that the pause on deposits and withdrawals will affect various networks, including BNB Smart Chain, Fantom, Ethereum, and Avalanche C-Chain. Specifically, the Multichain-bridged tokens that can no longer be transferred via the aforementioned chains are:

Polkastarter (POLS), Alchemy Pay (ACH), and SuperVerse (SUPER) and Harvest Finance (FARM) on the BNB Smart Chain; Alpaca Finance (ALPACA) and Beefy.Finance (BIFI) tokens minted on Fantom Network; Spell Token (SPELL) on Avalanche C-Chain and Travala (AVA) on the Ethereum bridge.

While Binance did not provide specific details regarding the reason for ceasing support for these bridge tokens, it emphasized that the decision is related to the earlier suspension of multiple Multichain bridge tokens.

On May 24, the crypto giant announced a temporary suspension of multiple tokens following an incident involving Multichain bridge transfers.

Although deposits and withdrawals for the mentioned tokens are suspended on Binance via the listed chains, the exchange reiterated that users can still access these transfers through other Binance-supported networks.