Fantom Foundation Faces Major Security Breach – $6.7 Million Lost
The Fantom Foundation, the team dedicated to building the Fantom network, has reportedly fallen victim to a hack that led to a significant loss of approximately $6.7 million worth of digital assets.
On October 17, the Fantom Foundation encountered a hacking incident, as reported by on-chain investigator Spreek. The attack was confirmed based on information from a Telegram report, though it's important to note that this information was labeled as an "alleged" hacking scenario.
The hacked wallets have been identified, and initial estimates suggest losses of approximately $6.7 million. Although, the stolen funds may include assets not directly linked to the Fantom Foundation.
Blockchain security firm Certik initially estimated that attackers siphoned off nearly $657,000 worth of crypto assets in the Fantom Foundation incident. However, the figure was later updated to approximately $7 million. According to Certik, the attacker executed transactions from the Fantom Foundation's wallets on both the Ethereum and Fantom networks.
Certik identified at least two wallets, Wallet 20 and 18, as being involved in the attack, resulting in a net loss of approximately $470,000 in FTM, Fantom native token and around $187,000 in ETH. Certik acknowledged Spreek for providing pivotal information about the attack.
Upon further examination of blockchain data, it was revealed that Fantom Foundation Wallet 20 on the Fantom network sent over 1 million FTM tokens to an address labeled "Fake_Phishing32."
Additional information indicates that Fantom Foundation wallets 1, 16, 18, and 19 were also impacted by the attack. Some non-tagged wallets were associated, which were said to be personal wallets of team members. One wallet linked to a team member was
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