According to Odaily, the Fantom Foundation has emerged victorious in a lawsuit against Multichain in the Singapore High Court. The court ruled that Multichain had breached its contract and ordered it to pay $2.1 million in damages. The court pointed out that Multichain's leadership's control over crypto assets violated the user agreement. The backdrop to this case was Multichain's admission of a key breach on social media.
The Fantom Foundation plans to continue pushing for Multichain's liquidation process and provide support for the recovery and distribution of affected parties' assets. The court's decision marks a significant victory for the Fantom Foundation and serves as a reminder of the importance of adhering to user agreements in the rapidly evolving world of cryptocurrency.