Singapore High Court orders Multichain Foundation to pay Fantom approximately $2.19 million

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Cointime2024/07/09 05:25

By:Cointime

The Singapore High Court has ordered Multichain Foundation to compensate Fantom Foundation with 2,187,870.55 US dollars.Previously, Multichain was found guilty of default on January 30th and a damages compensation hearing was held on June 3rd.Fantom Foundation hoped to force Multichain to liquidate through litigation and have the court appoint a liquidator to help recover and distribute assets. Attorney Nicolas Tang said that this ruling is a significant victory for clients and the cryptocurrency community, reinforcing the legal status of digital assets.

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