The CEO’s sister was arrested in China days after she moved $220 million in user funds to wallets under her control. Multichain’s team also confirmed the news that CEO Zhaojun was arrested by China police in May. The project will shut down operations ASAP due to limited operational funds and a lack of information from Zhaojun’s family. Friday’s announcement comes after technical issues, a force Majeure, and investor exits from the cross-chain bridge protocol. Multichain team’s said the cross-chain protocol