HectorDAO applies for Chapter 15 bankruptcy protection

ChainCatcher news, according to Cointelegraph, the decentralized autonomous organization HectorDAO has filed for Chapter 15 bankruptcy protection in the United States. The main reasons for its bankruptcy include the collapse of the Terra ecosystem in 2022, the downfall of the Multichain protocol, and the hacking of the Hector treasury. Interpath Advisory has been appointed by the court to investigate whether any former management executed internal attacks.

Chapter 15 bankruptcy allows foreign entities with international investors to file for bankruptcy in the U.S. judicial system.