Fantom

Foundation

<div class="coinjournal">
 <ul>
  <li dir="ltr">Fantom Foundation director Andre Cronje reportedly confirmed that an employee lost $7 million worth of crypto to a phishing attack.</li>
  <li dir="ltr">However, all Fantom Foundation funds were safe.</li>
  <li dir="ltr">FTM price did fall following the news.</li>
 </ul>
 <p dir="ltr">A Fantom Foundation <a rel="noopener noreferrer nofollow" title="employee" href="https://thebittimes.com/tag/employee.html">employee</a> has lost $7 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> worth of crypto after a phishing attack on their personal wallet. The <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a> did not affect user funds or those of the Fantom Foundation, co-founder and architect Andre Cronje said in a statement quoted by <em>The Block</em>.</p>
 <p dir="ltr">Earlier reports that falsely pointed out that the <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a> had ended with the attacker draining the Fantom Foundation’s wallets saw the native Fantom (FTM) token plummet sharply. But while the zero-day <a rel="noopener noreferrer nofollow" title="exploit" href="https://thebittimes.com/tag/exploit.html">exploit</a> is said to have targeted an <a rel="noopener noreferrer nofollow" title="employee" href="https://thebittimes.com/tag/employee.html">employee</a>’s wallet, FTM price has struggled to pick up momentum.</p>
 <h2 dir="ltr" id="fantom-price-plummets-on-exploit-news">Fantom price plummets on exploit news</h2>
 <p dir="ltr">Fantom traded to highs near $0.19 earlier in the day. However, as the exploit’s news hit the market (in the version that Fantom Foundation had been hacked, FTM price quickly fell to $0.17. The decline of almost 10% saw the altcoin’s price give up all gains seen on Monday when the price spiked amid broader market volatility.</p>
 <div class="fr-img-space-wrap"><span class="fr-img-caption fr-fic fr-dib fr-draggable" style="width: 100%"><span class="fr-img-wrap"> <p dir="ltr"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/18/f0f34318f4703fce254bc2e2e6058d69.webp" style="width: 100%" class="fr-fic fr-dib" width="700" height="267"><span class="fr-inner">Fantom price chart</span></p> <p></p></span></span>
  <p class="fr-img-space-wrap2">With this decline, FTM/USD has broken to its lowest price level since the August 17 dip. The other time FTM/USD traded at these levels was in November 2022, when the collapse of crypto exchange FTX plunged the crypto market into negative sentiment.</p>
 </div>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/fantom-foundation-employee-loses-7-million-in-exploit-tbt66761.html">https://thebittimes.com/fantom-foundation-employee-loses-7-million-in-exploit-tbt66761.html</a></p>

Fantom Foundation employee loses $7 million in exploit

Table of Contents

TheBitTimes

Other articles published on Oct 17, 2023

Justin Sun deposits $25.5m on Binance

5 Crypto Casinos in Lithuania That Are Rewarding For Gamblers

Just in: Bolt condoles with families of 3 slain drivers, pledges to support police investigation

Analyst Predicts Kaspa is the ‘Most Bullish’ in Crypto Versus Bitcoin, KAS Surges By 5%

Expert Price Breakdown: The Truth Behind Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) Upcoming ...

Bitcoin Momentarily Hit $30K Due to False News of ETF Approval

Join our free newsletter for daily crypto updates!