The High Court of Singapore ordered Multichain to compensate the Fantom Foundation after a $210 million hack, awarding $2.18 million in damages.
The High Court of Singapore has ordered the Multichain Foundation, a cross-chain router protocol, to compensate the Fantom Foundation, a layer-1 platform, for losses incurred during a $210 million hack.
In July 2023, the Chinese cross-chain protocol Multichain Foundation witnessed abnormally large outflows, later confirmed as a hack. As a result, many protocols associated with the chain fell victim to the attack, leading to the loss of over $210 million in assets across multiple chains, including Fantom, Ethereum, BNB, Cronos, Polygon, Arbitrum, zkSync, Optimism and Moonbeam.
The Fantom Foundation reported its financial losses to the Singapore High Court and sought compensation for the losses incurred.
