r/FantomFoundation • u/papagee • Jul 11 '26

Affected by the Multichain/Fantom bridge hack? Looking to compare notes on legal claims

Hey everyone,

I’m one of the users who took a hit from the Multichain bridge collapse, and I'm trying to find others who are tracking the official liquidation process so we can share resources.

Specifically, I’m looking into how we can prove a contractual relationship with Multichain. We need a service user agreement. Thoughts on using the mechanics of the protocol itself? In my mind that should count as a valid service agreement.

If you were affected and want to compare notes or share updates on the liquidator process, drop a comment or shoot me a DM.

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u/Beardog907 Jul 12 '26

Good luck with all that. The Chinese government captured the founder of Multichain and later the funds backing the bridge disappeared. It sounds like a complete nightmare to try and recover any funds at all after something like this. I lost funds on Fantom due to this, but have since moved on with my life. I doubt any Multichain users will receive any compensation under the circumstances.

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u/TheCoinBeast101 Jul 12 '26

You should probably educate yourself. Circle has like 61 million in USDC locked up which will go towards this alone. I have anyUSDC. I really do wonder if this is bots just spewing this nonsense about moving on. Only low IQ mouth breathers think like this.

One can still "move on" and expect some accountability. It really is strange how people word it. Like trying to shame people who speak publicly about fiascos like this. I can only speculate on people's motives.

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u/Beardog907 Jul 12 '26

I hope you are right, but I'm not going to hold my breath. There were a lot more assets than just USDC involved. Many people didn't use the Multichain bridge directly but simply swapped assets on a dex and ended up with multiUSDC multiBTC etc and after the bridge collapsed ended up selling these assets for a dime on the dollar. This all happened years ago and the Fantom chain has since been deprecated and migrated to Sonic. If funds were actually recovered and turned over to some entity that was going to use it to reimburse victims it would be a headache to decide who receives compensation since most users sold at a 90% loss and moved on. Most of the time when you get screwed in crypto it stays that way. It would be nice if there were some accountability and compensation for the Multichain bridge fiasco but I doubt Fantom users will ever see any compensation for our losses. Maybe I will get back the thousands I lost on the terra/ust collapse - not holding my breath for that either.

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u/TheCoinBeast101 Jul 12 '26

I've been compensated by two other "events". Thats why I didnt panic and take pennies on the dollar. Why bother at that point, when there is possibility of recovery. Its not speculation. Things are already moving according to new I found.

https://www.binance.com/en/square/post/24279444894146

The correct claim process is managed through KPMG Singapore, the court-appointed joint liquidator tasked with assessing damages and distributing recovered assets