Multichain Confirms CEO's Arrest by Chinese Officials, Announces Winding Down Operations

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Multichain Confirms CEO's Arrest by Chinese Officials, Announces Winding Down Operations
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Multichain's CEO and his sister have reportedly been detained by Chinese police.

Multichain’s CEO and his sister have reportedly been detained by Chinese police.

On July 14, Multichain took to Twitter to reveal that Zhaojun has been out of contact with the team since being apprehended by the Chinese police from his home. His sister was taken into custody as well.Upon contacting the MPC node operators, the team was made aware that their operational access keys to MPC node servers had been revoked. They explained that the MPC node servers in question were running under the CEO’s personal cloud server account and that he had sole access to it.

“Since the inception of the project, all operational funds and investments from investors have been under Zhaojun’s control. This also means that all the team’s funds and access to the servers are with Zhaojun and the police.”

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