The High Court of Singapore ruled in favor of the Fantom Foundation in a legal battle against Multichain.

Multichain was ordered to pay $2.18 million in damages for losses from a $210 million hack in 2023.

Court revealed that Multichain's CEO had centralized control over assets, contradicting decentralization claims.

Despite the legal victory, Fantom is pushing for Multichain's liquidation to recover lost funds.

Fantom Foundation plans to appoint a third-party liquidator to distribute missing or frozen assets to all affected parties.

This legal win is considered a significant milestone for the cryptocurrency community, reinforcing the legitimacy of digital assets.