Fantom Foundation hacked for an estimated $6.7M: Report

Fantom Foundation, developers of the Fantom network, person reportedly been hacked for implicit $6.7 cardinal worthy of cryptocurrency. 

Blockchain information shows that an code labeled “Fake_Phishing188024” was sent implicit 2,000 Convex (CVX) tokens and different cryptocurrencies from a known Fantom Foundation wallet. On-chain sleuth Spreek reported the onslaught connected X (formerly Twitter) and estimated losses astatine $6.7 million. Security level CertiK has estimated losses astatine lone $657,000. The Foundation has yet to corroborate the attack.

total attacker nett (may not each needfully beryllium from fantom oregon related wallets) seems to beryllium ~$6.7m pic.twitter.com/0rkDHULsdI

— Spreek (@spreekaway) October 17, 2023

The Fantom Foundation is the developer down Fantom network, an Ethereum Virtual Machine (EVM)-compatible astute declaration platform. The web has implicit $45 cardinal successful assets locked wrong its contracts, according to DeFiLlama. The onslaught was against the instauration itself and not the Fantom network.

On October 17, on-chain sleuth Spreek reported that the instauration was “allegedly” attacked, based connected a study from Telegram. They aboriginal listed the hacked wallets and estimated losses astatine $6.7 million, though the drained funds whitethorn person included different sources extracurricular the Fantom Foundation. 

Related: Fantom DEX rescued astatine eleventh hr pursuing planned shutdown

Blockchain information level CertiK confirmed that the instauration had been hacked but estimated the losses astatine lone $657,000. Delving into the blockchain information shows that Fantom Foundation Wallet 1 connected Ethereum sent implicit 2,000 Convex (CVX) tokens, 1,000 Dai (DAI), 4,500 USDC (USDC) and different tokens to a wallet labeled “Fake_Phishing188024.” In addition, Fantom Foundation Wallet 20 connected Fantom web sent implicit 1 cardinal Fantom (FTM) tokens to an relationship labeled “Fake_Phishing32.” When a improvement squad sends funds to a known scam account, this mostly indicates that the team’s backstage cardinal has been stolen. 

At the clip of publication, the squad has not yet made an announcement regarding the incident.

In their thread connected X, Spreek stated that Fantom wallets 16 and 19 person been drained of funds arsenic well.

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.