⚡️ Sonic Labs achieved the liquidation of Multichain through the court — there is a chance to recover part of $210 million
🧑⚖️ The Supreme Court of Singapore sided with Sonic Labs (formerly Fantom Foundation) and ordered the forced liquidation of Multichain Foundation.
Reason?
The same exploit of $210 million in July 2023, where Sonic lost a third of the amount.
The court recognized:
— there was a fraudulent scheme,
— the contract was violated,
— Multichain collapsed after the CEO's arrest in China,
— there was no further connection with the team.
Now KPMG Singapore will take over management, and Sonic states:
> “We would not have gone to court if Multichain had not been hiding.”
🪙 There is a chance that the liquidation will help other victims as well — if assets are found, they will be distributed to investors.
