The Fantom Foundation, the developer of the Fantom community, has been hacked for over $550,000 value of cryptocurrency. The muse confirmed the assault on X, claiming that many of the funds stolen belonged to different customers and that 99% of the muse’s funds stay secure. The workforce is at the moment investigating the assault, it said.
— Fantom Foundation (@FantomFDN) October 17, 2023
Blockchain safety researchers initially reported that the attacker stole roughly $7 million in crypto. The Fantom Foundation later launched an official assertion saying that a few of the wallets labeled “Fantom: Foundation wallet” had been mislabeled by block explorers and that not all of the stolen funds had been from the muse. In line with the workforce, a few of the wallets impacted initially belonged to the muse however had since been reassigned to a Fantom worker and had been not holding firm funds. The workforce is at the moment investigating the assault in an try to find out how the wallets had been compromised.
The Fantom Foundation is the developer behind the Fantom community, an Ethereum Digital Machine-compatible sensible contract platform. The community has over $45 million in belongings locked inside its contracts, in accordance with DefiLlama. The assault was towards the muse and different Fantom wallet customers, not towards the Fantom community.
whole attacker revenue (might not all essentially be from fantom or associated wallets) appears to be ~$6.7m pic.twitter.com/0rkDHULsdI
— Spreek (@spreekaway) October 17, 2023
On Oct. 17, On-chain sleuth Spreek reported on X that the muse was “allegedly” attacked, primarily based on a report from Telegram. They later listed the hacked wallets and estimated losses at $6.7 million, but in addition said that the drained funds might have included different sources exterior the Fantom Foundation.
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Blockchain safety platform CertiK confirmed that the muse had been hacked. It initially estimated losses at $657,000 however later updated this determine to roughly $7 million. Delving into the blockchain knowledge reveals that an account labeled “Fantom Foundation Wallet 1” by Etherscan sent over 2,000 CVX, 1,000 Dai (DAI), 4,500 USD Coin (USDC) and different tokens to a wallet labeled “Fake_Phishing188024.” As well as, an account labeled “Fantom Foundation Wallet 20” by the Fantom community block explorer sent over 1 million FTM (FTM) to an account labeled “Fake_Phishing32.” When a improvement workforce sends funds to a identified rip-off account, this usually signifies that the workforce’s personal key has been stolen.
Replace October 17, 6:40 pm UTC: This text has been up to date to incorporate an official assertion from the Fantom Foundation on X.
Replace October 17, 5:55 pm UTC: This text has been up to date to point out that CertiK elevated its estimate of whole losses and to offer statements from a Fantom Telegram group admin.
This can be a growing story, and additional info shall be added because it turns into out there.
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