Singapore court rules in favor of Fantom Foundation winning case against Multichain

The Fantom Foundation successfully won its case against Multichain in the Singapore High Court, where the judgment found Multichain in breach of contract and awarded $2.10 million in damages. The court noted that Multichain's leadership breached the user agreement by controlling the crypto assets, and the case comes against the backdrop of Multichain's admission of a key breach on social media. The Fantom Foundation plans to continue to advance Multichain's winding-up process and provide support for the restoration and distribution of the affected party's assets.