Fantom Foundation hacked for an estimated $6.7M: Report
Fantom Foundation, developers of the Fantom network, have reportedly been hacked for over $6.7 million worth of cryptocurrency.
Blockchain data shows that an address labeled “Fake_Phishing188024” was sent over 2,000 Convex (CVX) tokens and other cryptocurrencies from a known Fantom Foundation wallet. On-chain sleuth Spreek reported the attack on X (formerly Twitter) and estimated losses at $6.7 million. Security platform CertiK has estimated losses at only $657,000. The Foundation has yet to confirm the attack.
total attacker profit (may not all necessarily be from fantom or related wallets) seems to be ~$6.7m pic.twitter.com/0rkDHULsdI
The Fantom Foundation is the developer behind Fantom network, an Ethereum Virtual Machine (EVM)-compatible smart contract platform. The network has over $45 million in assets locked within its contracts, according to DeFiLlama. The attack was against the foundation itself and not the Fantom network.
On October 17, on-chain sleuth Spreek reported that the foundation was “allegedly” attacked, based on a report from Telegram. They later listed the hacked wallets and estimated losses at $6.7 million, though the drained funds may have included other sources outside the Fantom Foundation.
Related: Fantom DEX rescued at eleventh hour following planned shutdown
Blockchain security platform CertiK confirmed that the foundation had been hacked but estimated the losses at only $657,000. Delving into the blockchain data shows that Fantom Foundation Wallet 1 on Ethereum sent over 2,000 Convex (CVX) tokens, 1,000 Dai (DAI), 4,500 USDC (USDC) and other tokens to a wallet labeled “Fake_Phishing188024.” In addition, Fantom Foundation Wallet 20 on Fantom network sent over 1 million Fantom (FTM) tokens to
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