Multichain, a cross-chain bridge protocol , shut down in July 2024 after its CEO, known as Zhaojun, was detained by Chinese authorities and the protocol ran out of operational funds following $210mln exploit in July 2023

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Multichain CEO Zhaojun He was arrested by Chinese authorities months prior to the exploit, and has not made a public appearance since.

Multichain shut down in July 2024 due to a lack of operational funds, and after its CEO, known as Zhaojun, was detained by Chinese police.

The loss of funds and the series of events that followed led to Multichain ceasing operations altogether. The whereabouts of CEO Zhaojun were also unknown for some time until it came to light that he was arrested by Chinese authorities due to the fallout of the breach.