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- #Gate 2025 Semi-Year Community Gala# voting is in progress! 🔥
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Sonic Labs wins the judgment, the Multichain Foundation will be dissolved.
ChainCatcher news, the High Court of Singapore ruled in favor of Sonic Labs' motion, forcing the Multichain Foundation into liquidation to recover funds stolen during the hacker attack in 2023. Michael Kong, CEO of Sonic Labs, stated in a statement posted on X on May 14 that the team behind Sonic felt they had no choice but to file a lawsuit to force the closure of Multichain because its former employees were "completely uncooperative."