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BTCC / BTCC Square / Global Cryptocurrency /
Singapore Court Orders Multichain Liquidation Following $210M Hack

Singapore Court Orders Multichain Liquidation Following $210M Hack

Author:
Global Cryptocurrency
Published:
2025-05-15 17:19:01
11
3

The High Court of Singapore has granted a winding-up order against Multichain Foundation Ltd., marking a pivotal development in the aftermath of a 2023 security breach that drained $210 million from users. Sonic Labs, formerly Fantom Foundation, spearheaded the legal action after suffering losses in the exploit.

KPMG Services Pte. will oversee the liquidation process, with affected users awaiting potential recovery of funds. The ruling underscores growing judicial scrutiny of cross-chain protocols and their accountability for security failures.

|Square

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