According to BlockBeats, on July 16, Andre Cronje, director of the Fantom Foundation, commented on the recent Multichain incident. Cronje said that the failure of Multichain had a great impact on the blockchain ecosystem. Previously, the Multichain team had made a number of promises on issues such as server decentralization, access, and geographic distribution, which in fact proved that we cannot trust them.

At present, the Fantom Foundation is exploring cooperation with relevant organizations to restore affected assets and provide compensation to users. The Foundation will make every effort to ensure that everyone is properly handled.

In addition, the Fantom Foundation will continue to cooperate with Circle, Tether, TrueUSD, and Binance to realize the issuance of native stablecoins. At the same time, the Foundation is reviewing the native bridge infrastructure. After obtaining enough verifiable information, the Foundation will propose a corresponding action plan.