📣Breaking: Singapore High Court orders Multichain Foundation to pay up for a $210M hack!🔓💰

In a plot twist straight out of a Hollywood movie, the Multichain Foundation, a Chinese cross-chain protocol, was hit by a hack in July 2023, causing a whopping $210M loss across multiple chains. Fantom Foundation, a layer-1 platform, was among the victims. 🎬💔

Fantom didn't take it lying down. They took Multichain to court, claiming the breach was possible due to the CEO's ultimate privileges and control over the assets. The court agreed and awarded Fantom $2.187M.👨‍⚖️💵

But here's the kicker: Fantom claimed its losses were about a third of the total $210M. So, is this a win or a loss? 🤔💸

Meanwhile, crypto losses from hacks and scams more than doubled in Q2 2024 compared to Q2 2023. But hey, every cloud has a silver lining - Immunefi reported a 23% reduction in Q1.📉🌤️

What's your take on this? Drop your thoughts in the comments!👇 #DeFi #Web3 #CryptoNews