TechFlow reported, citing Cointelegraph, that the decentralized autonomous organization HectorDAO has filed for Chapter 15 bankruptcy protection in the United States. Key factors leading to its bankruptcy include the collapse of the Terra ecosystem in 2022, the Multichain protocol meltdown, and a hacker attack on the Hector treasury. Interpath Advisory has been appointed by the court to investigate whether former managers carried out any internal attacks.
Chapter 15 bankruptcy allows foreign entities with international investors to file for bankruptcy protection under the U.S. legal system.
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