Sonic Labs wins the ruling, Multichain Foundation will be dissolved
ChainCatcher news, the Singapore High Court ruled in favor of Sonic Labs' motion to force the Multichain Foundation into liquidation to recover the funds stolen during the 2023 hack.
Sonic Labs CEO Michael Kong stated in a post on X on May 14 that the team behind Sonic felt they had no choice but to file a lawsuit to shut down Multichain, as its former employees were "completely uncooperative."
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