According to Foresight News, Sonic Labs, formerly known as Fantom Foundation, has been granted approval by the Singapore High Court to liquidate Multichain Foundation. This decision aims to address the $210 million deficit caused by a hacking incident in 2023. KPMG Singapore has been appointed as the joint liquidator. The hacking incident resulted in significant financial losses for Multichain Foundation, with Sonic Labs bearing approximately one-third of the total loss
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