{"id":175941,"date":"2023-10-17T21:15:06","date_gmt":"2023-10-17T15:45:06","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175941"},"modified":"2023-10-17T21:15:06","modified_gmt":"2023-10-17T15:45:06","slug":"fantom-foundation-hacked-for-an-estimated-6-7m-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/fantom-foundation-hacked-for-an-estimated-6-7m-report-crypto-news\/","title":{"rendered":"Fantom Foundation hacked for an estimated $6.7M: Report – Crypto News"},"content":{"rendered":"
\n

Fantom Foundation, developers of the Fantom network, have reportedly been hacked for over $6.7 million worth of cryptocurrency.\u00a0<\/p>\n

Blockchain data shows that an address labeled \u201cFake_Phishing188024\u201d 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.<\/p>\n

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total attacker profit (may not all necessarily be from fantom or related wallets) seems to be ~$6.7m pic.twitter.com\/0rkDHULsdI<\/a><\/p>\n

\u2014 Spreek (@spreekaway) October 17, 2023<\/a><\/p><\/blockquote>\n

The Fantom Foundation is the developer behind Fantom network, an Ethereum Virtual Machine (EVM)-compatible smart contract platform. The network has<\/a> over $45 million in assets locked within its contracts, according to DeFiLlama. The attack was against the foundation itself and not the Fantom network.<\/p>\n

On October 17, on-chain sleuth Spreek reported that the foundation was \u201callegedly\u201d 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.\u00a0<\/p>\n

Related: <\/strong>Fantom DEX rescued at eleventh hour following planned shutdown<\/strong><\/a><\/em><\/p>\n

Blockchain security platform CertiK\u00a0confirmed<\/a>\u00a0that 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<\/a> over 2,000 Convex (CVX) tokens, 1,000 Dai (DAI), 4,500 USDC (USDC<\/a>) and other tokens to a wallet labeled \u201cFake_Phishing188024.\u201d In addition, Fantom Foundation Wallet 20 on Fantom network sent<\/a> over 1 million Fantom (FTM) tokens to an account labeled \u201cFake_Phishing32.\u201d When a development team sends funds to a known scam account, this generally indicates that the team\u2019s private key has been stolen.\u00a0<\/p>\n

At the time of publication, the team has not yet made an announcement regarding the incident.<\/p>\n

In their thread on X, Spreek stated that Fantom wallets 16 and 19 have been drained of funds as well.<\/p>\n

This is a developing story, and further information will be added as it becomes available.\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fantom Foundation, developers of the Fantom network, have reportedly been hacked for over $6.7 million worth of cryptocurrency.\u00a0 Blockchain data shows that an address labeled \u201cFake_Phishing188024\u201d 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 […]<\/p>\n","protected":false},"author":2,"featured_media":175942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-175941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175941"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175941\/revisions"}],"predecessor-version":[{"id":175944,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175941\/revisions\/175944"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/175942"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}