Key Takeaways
- Multichain CEO Zhaojun has been taken away by Chinese police, with no contact with the global Multichain team since then.
- Operational access keys to Multichain’s MPC node servers were revoked, running under Zhaojun’s personal cloud server account.
- Zhaojun’s family has confirmed the confiscation of his devices and assets, and his sister has also been taken into custody, exacerbating the project’s operational challenges.
In a shocking turn of events, Multichain, a prominent blockchain project, announced that its CEO, Zhaojun, was taken away by Chinese police, disrupting project operations. The Multichain team revealed that they have been unable to establish contact with Zhaojun since his detainment.
The Multichain team recently discovered that their operational access keys to the MPC (Multiparty Computation) node servers had been revoked. These servers were running under Zhaojun’s personal cloud server account, which no other team member had access to. As a result, the team’s ability to manage and oversee the project’s operations has been severely compromised.
Amidst the growing concerns, the Multichain team managed to establish contact with Zhaojun’s family. They provided some insights into the situation. It was revealed that Zhaojun’s devices and assets were confiscated by the authorities. However, in an effort to address technical issues with specific routers, Zhaojun’s family granted limited physical access to his home computer.
We believe, the incident that unfolded on July 7 has further exacerbated the project’s troubles. This was when $127 Million in assets were abruptly moved on Multichain to unknown addresses.
Zhaojun’s sister, acting on behalf of the CEO at the time, transferred the remaining user assets to the router pool. She promptly notified the Multichain team and relevant project parties about the actions taken.
However, the situation took another distressing turn as, on July 13. Zhaojun’s sister was also taken into custody, and the team has been unable to establish contact with her since then.
The Multichain team now finds itself in a precarious position, lacking alternative sources of information and facing significant disruption in operations. Furthermore, the project is grappling with the absence of operational funds.
If the arrest is really related to this serious security and integrity concerns, only time can tell. For now, continuing running the venture under such circumstances is dire. Consequently, the team at Multichain has made the difficult decision to cease operations until further notice.
Source
https://twitter.com/MultichainOrg/status/1679768407628185600?s=20