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BTCC / BTCC Square / Global Cryptocurrency /
Singapore High Court Orders Liquidation of Multichain Foundation for Asset Recovery

Singapore High Court Orders Liquidation of Multichain Foundation for Asset Recovery

Author:
Global Cryptocurrency
Published:
2025-05-15 13:15:01
18
2

The Singapore High Court has authorized the liquidation of the Multichain Foundation, appointing KPMG as the official liquidator to oversee the recovery of lost assets. The ruling, issued on May 9, 2025, follows legal action by Sonic Labs, which accused Multichain of failing to cooperate in tracing stolen funds.

Sonic Labs CEO Michael Kong criticized Multichain’s lack of transparency, stating that the forced liquidation could have been avoided with proper cooperation. The case highlights growing regulatory scrutiny over cross-chain protocols and their accountability in asset recovery.

|Square

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