Fantom, the smart contract platform, has seen a significant decline in its activity due to Multichain's recent problems. Co-founder Andre Cronje classified the debacle as a "big blow" to the platform. Fantom's total value locked (TVL) has dropped from over $364 million in early May to about $70 million on July 14. Meanwhile, the price of Fantom's native coin (FTM) fell from $0.41 to $0.28. These issues can be attributed to the arrest of Multichain's CEO in May and the subsequent exploit of the platform that resulted in a loss of over $125 million in cryptocurrencies. Additionally, lending protocol Geist Finance was forced to shut down permanently due to losses suffered from the exploit.