Singapore Court Rules in Favor of Fantom Foundation in Lawsuit Against Multichain

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Cointime2024/07/09 01:13

By:Cointime

Fantom Foundation has successfully won a lawsuit against Multichain in the Singapore High Court, with a ruling that Multichain breached the contract and must compensate for a loss of $2.1 million. The court pointed out that Multichain's leadership's control of encrypted assets violated the user agreement, and the background of the case is that Multichain admitted to a key breach on social media. Fantom Foundation plans to continue to promote the liquidation process of Multichain and provide support for the recovery and distribution of affected parties' assets.

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