The Seoul High Court ruled in favor of the Fantom Foundation, dismissing all compensation sought by the plaintiff

ChainCatcher news, the three judges of the Civil Division of the Seoul High Court ruled in favor of the Fantom Foundation with a vote of 19-3, and sued the South Korean food tech startup SikSin and its CEO Byung-Ik Ahn (collectively referred to as "the plaintiffs"), overturning the first-instance judgment of the Seoul Central District Court (which granted the plaintiffs full compensation of over 198 million FTM from Fantom), dismissing all claims for compensation sought by the plaintiffs, and ordering the plaintiffs to bear all litigation costs.

It is reported that on July 23, 2019, Ahn and SikSin filed a lawsuit against Fantom, located in the Cayman Islands, in the Seoul Central District Court. They claimed to have provided multiple services under a service agreement signed with Fantom ("Service Agreement"). The appellate court found that Ahn and SikSin not only failed to design a viable blockchain technology but also engaged in plagiarism, which brought the Fantom project "to the brink of collapse." The first-instance proceedings were conducted without Fantom's participation, and Fantom was unaware of the first-instance proceedings. On May 27, 2022, the Seoul Central District Court ruled that Ahn and SikSin were entitled to all the relief sought by Ahn and SikSin, but Fantom was unaware of this.