According to Deep Tide TechFlow, on May 15, Sonic Labs CEO Michael Kong stated that Sonic Labs (formerly known as the Fantom Foundation) has received approval from the Singapore High Court to liquidate the Multichain Foundation to recover the losses from the 210 million USD vulnerability, with KPMG Singapore serving as the co-liquidator.
It is reported that in 2023, the Multichain Foundation was hacked, resulting in losses of over 210 million USD, with Sonic Labs suffering approximately one-third of the total losses.
Multichain CEO Zhaojun He was arrested by Chinese authorities months before this attack occurred and has not made any public appearances since.
