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Binance halts transfers for several multi-chain bridged tokens

  • Binance will end support for deposits and withdrawals for multi-chain bridged tokens Polkastarter (POLS), Alchemy Pay (ACH), Alpaca Finance (ALPACA), and Travala (AVA).
  • The tokens are minted on BNB Smart Chain, Fantom, Ethereum and Avalanche C-Chain.
  • The exchange says the suspension follows an earlier one taken in May following an incident involving multi-chain bridged tokens.

Binance is shutting down deposits and withdrawals for several tokens linked to the cross-chain router protocol Multichain, according to a notice the crypto exchange published on Wednesday.

The crypto behemoth states that the suspension of multichain bridged tokens will take effect on July 7 starting at 00:00 UTC and will last “until further notice.”

The price of Multichain fell by almost 6% in the last 24 hours and was trading near $3.14 at the time of writing.

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

Binance says in the notice to users that deposits and withdrawals will affect various networks, including BNB Smart Chain, Fantom, Ethereum and Avalanche C-Chain. In particular, multi-chain bridged tokens that users can no longer transfer via the above chains are:

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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 the Fantom Network; Spell Token (SPELL) on Avalanche C-Chain and Travala (AVA) on Ethereum bridge.

While Binance did not provide specific details on why support for the above brotokens is ending, it highlights that the move was related to the previous suspension of several Multichain brotokens.

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

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

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