Fantom Foundation to Liquidate Multichain Foundation in Asset Recovery Effort

Fantom Foundation, a blockchain platform for decentralized finance, has announced its intention to liquidate Multichain Foundation in an effort to recover assets lost in a security breach last July. The High Court of Singapore has ruled in favor of Fantom, leading to plans for the appointment of a liquidator to assess damages and recover missing or frozen assets. Fantom's legal action could also pave the way for other affected users to claim lost assets with the default judgment ruling.