Fantom Foundation seeks compensation from Multichain

Home / Fantom Foundation seeks compensation from Multichain

Fantom Foundation announced that the Singapore High Court has ruled in favor of the company in a case against Multichain for breach of contract and fraudulent misrepresentation.

Fantom is also seeking the liquidation of Multichain Foundation to recover the company’s assets.

A victory in this case would allow Multichain’s users to take similar action to partially recover their funds.

Fantom noted that the company’s losses amounted to one-third of the amount stolen from Multichain. The total amount of funds stolen is estimated to be ~210 million.

Multichain’s bridge was hacked in the summer just days after the project’s CEO went missing and was allegedly arrested in China.

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