Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Fantom Foundation is taking legal action to recover assets lost in the $200 million Multichain exploit by seeking to wind up the Multichain Foundation.
The foundation, which said it won a default judgment in Singapore in January when Multichain failed to respond, is now seeking to liquidate the company, a process that's equivalent to a Chapter 7 bankruptcy in the U.S., so that any assets can be recovered and distributed. Fantom noted its losses amounted to one-third of the amount stolen from Multichain. Other lost assets were spread across different blockchains, including Fantom, Ethereum and BNB Chain.in July came days after its CEO went missing, its technology was failing, and certain nodes that ensured the platform's security were changed.
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