The High Court of Singapore has approved Sonic Labs' liquidation application against the Multichain Foundation, appointing KPMG as the liquidator. The ruling stems from the hacking attack on Multichain in 2023, which resulted in over $210 million in asset losses. Sonic Labs stated that it was forced to resort to legal action due to former employees refusing to cooperate with the investigation. The liquidator will initiate asset recovery, and the recovered funds will be returned to the victimized users. Multichain has been discontinued since 2024, CEO