Key Takeaways
Fantom seeks to have Multichain declared bankrupt by the Singapore High Court to recover around $122 million lost in a bridge exploit.
A default judgment has been secured by Fantom, paving the way for the potential appointment of a liquidator to manage asset recovery.
The case highlights ongoing efforts to tackle security vulnerabilities within the blockchain space.
The Fantom Foundation is turning to the Singapore High Court to declare the Multichain Foundation bankrupt.
This action was taken with the aim of recovering around $122 million lost in the exploit of Multichain's Fantom bridge in 2023.