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Is Multichain making a comeback? Former team members launch new cross-chain bridge "ValueRouter," sparking negative feedback from the community.

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Is Multichain making a comeback? Former team members launch new cross-chain bridge "ValueRouter," sparking negative feedback from the community.

After the well-known cross-chain bridge Multichain was hacked in July this year, shocking news emerged one after another, with the CEO's whereabouts unknown and operations halted. However, today, it was reported that former team members have developed a new cross-chain bridge called "ValueRouter." What is the community's reaction to this news?

MultiChain Hacked and Shutdown Event

According to previous reports, MultiChain was reported to have been hacked in early July this year, with a total of approximately $126 million in assets abnormally transferred. Due to the CEO of MultiChain, Jun Zhao, being taken away by the police in China from his home, and the MPC nodes being too centralized, other team members lost access to funds and server permissions.

Eventually, this early cross-chain infrastructure supported by the Fantom Foundation announced that it would cease operations, and there have been no further updates since then.

Former Engineer of MultiChain Launches New Cross-Chain Bridge "ValueRouter"

After more than two months, the MultiChain team, now known as X, unexpectedly announced on Twitter that their former engineer has been working on developing Web3 products after the team disbanded, and has launched a cross-chain bridge called "ValueRouter".

According to the official website, this cross-chain bridge facilitates asset cross-chain transactions through Circle's cross-chain transmission protocol CCTP and ValueRouter's relay Relayer.

Currently, the actual usage is relatively simple compared to other cross-chain bridges, and it only supports chains such as Ethereum, Avalanche, Optimism, and Arbitrum.

New Cross-Chain Bridge Community Skeptical

Regarding the latest news about MultiChain, X users mostly maintain a negative attitude. Some believe that a new product has been introduced too quickly, while others suspect the team of being involved in fraud.

However, the main concern for most is still when the assets stuck in MultiChain will be returned?