According to Foresight News, Sonic Labs CEO Michael Kong stated that Sonic Labs (formerly Fantom Foundation) has obtained approval from the Singapore High Court to liquidate the Multichain Foundation to compensate for the losses caused by the $210 million breach, with KPMG Singapore serving as the joint liquidator. In 2023, the Multichain Foundation suffered a hacker attack, resulting in losses exceeding $210 million, with Sonic Labs' losses accounting for about one-third of the total.
Multichain CEO Zhaojun He was arrested by Chinese authorities months before this attack incident occurred and has not appeared publicly since.
