According to BlockBeats, HectorDAO, a decentralized autonomous organization, has filed for Chapter 15 bankruptcy protection in the United States. The main reasons leading to its bankruptcy include the collapse of the Terra ecosystem in 2022, the crash of the Multichain protocol, and a cyber attack on Hector's treasury.
The court has appointed Interpath Advisory to investigate whether any former managers carried out internal attacks. Chapter 15 bankruptcy allows foreign entities with international investors to file for bankruptcy within the US judicial system.