Multichain founder’s new project, Chainge, has trapped users' funds
Chainge, a cross-chain “decentralized finance” project, has trapped user funds for months as promises of salvation fail. The project, which is sort of a bridge and sort of a decentralized exchange, is led by DJ Qian, who previously founded Multichain. The project’s Telegram shows many users complaining that their transactions are stuck and unable to process, and Qian has promised that he will inject liquidity to save the project . Why the arrest of Multichain’s CEO shouldn’t come as a surprise Read more: Multichain Protocol secretly restarts to another $1 million exploit Many of these reports relate to the wrapped Kaspa (wKAS) bridge, with the team claiming that problems were due to “bad actors” who “misused our service” and “caused a liquidity shortage.” These problems have persisted since at least early this year and perhaps as early as late last year. This wKAS token has now substantially depeg...