Ethereum

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Fantom

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/fantom-foundation-exploit-how-hackers-stole-nearly-7m/">Fantom Foundation Exploit – How Hackers Stole Nearly $7M Right Under Their Noses</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
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 <li><strong>In a devastating blow, the Fantom Foundation falls victim to an exploit draining millions from its wallets across Ethereum and Fantom.</strong></li> 
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<p>Blockchain security firm CertiK Alert reported that Fantom Foundation wallets were recently compromised. The exploit resulted in major losses across Ethereum and Fantom.</p> 
<p>According to CertiK, the Foundation lost around $470,000 in FTM tokens and at least $187,000 in ETH after a security exploit. Additionally, the stolen funds have been consolidated into a wallet holding 4,501 ETH valued at nearly $7 million.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CertiKSkynetAlert?src=hash&amp;ref_src=twsrc%5Etfw">#CertiKSkynetAlert</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Fantom Foundation wallets have been drained on Ethereum and Fantom<br><br>So far we can confirm:<br><br>Fantom: Foundation Wallet 20 lost ~$470k on FTM<br>Fantom: Foundation Wallet 18 lost at least ~$187k on ETH<br><br>We will continue to track <a href="https://t.co/KnyqgaO4CB">https://t.co/KnyqgaO4CB</a></p>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1714289040873418763?ref_src=twsrc%5Etfw">October 17, 2023</a>
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<p>An administrator on Fantom’s Telegram cited a zero-day Chrome exploit allowing the foundation wallets to be drained. While total losses are still being confirmed, initial amounts are estimated in the hundreds of thousands.</p> 
<p>On October 17, on-chain sleuth Spreek <a href="https://twitter.com/spreekaway/status/1714282750830928176" target="_blank" rel="noreferrer noopener">reported</a> 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.</p> 
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   <p lang="en" dir="ltr">Fantom Foundation allegedly drained on one of their wallets via a Chrome zero day <a href="https://t.co/PhBO2TtsAt">pic.twitter.com/PhBO2TtsAt</a></p>— Spreek (@spreekaway) <a href="https://twitter.com/spreekaway/status/1714282750830928176?ref_src=twsrc%5Etfw">October 17, 2023</a>
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<h2 class="wp-block-heading" id="h-the-breach-impacted-fantom-foundation-as-a-whole">The breach impacted Fantom Foundation as a whole</h2> 
<p>Fantom develops the EVM-compatible smart contract platform for the Fantom network. The breach impacted the foundation itself rather than the blockchain.</p> 
<p>According to crypto commentators, the hacker demonstrated familiarity with DeFi protocols in unwinding complex positions from the compromised wallet, originally holding over $3 million.</p> 
<p>This high-profile incident highlights the ongoing threat of security vulnerabilities, even for major organizations. As cyber attacks grow more sophisticated, proactive measures to protect funds remain essential across the crypto landscape.</p> 
<p>The foundation’s representatives have stated they are actively tracking the lost assets. The community awaits further details on the extent of the exploit’s damage as the investigation continues.</p>

Fantom Foundation Exploit – How Hackers Stole Nearly $7M Right Under Their Noses

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