🔔A Singapore court has ordered the Multichain Foundation, an inter-chain router protocol, to compensate the Fantom Foundation, a tier-one platform, for $210 million in damages resulting from a hacker attack.

In July 2023, the Chinese cross-chain protocol Multichain Foundation experienced abnormally large outflows, later confirmed as a hacker attack.

On July 8, the court awarded Fantom $2.187 million for losses incurred during the hacker attack. However, Fantom previously said that Fantom's ecosystem losses accounted for about a third of its total losses of $210 million.

Losses from cryptocurrency hacking and fraud more than doubled in the second quarter of 2024 compared to the same period the previous year.