Fantom Foundation hacked for an estimated $6.7M: Report

Fantom Basis, builders of the Fantom community, have reportedly been hacked for over $6.7 million value of cryptocurrency. 

Blockchain knowledge exhibits that an deal with labeled “Fake_Phishing188024” was despatched over 2,000 Convex (CVX) tokens and different cryptocurrencies from a recognized Fantom Basis pockets. On-chain sleuth Spreek reported the assault on X (previously Twitter) and estimated losses at $6.7 million. Safety platform CertiK has estimated losses at solely $657,000. The Basis has but to verify the assault.

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

The Fantom Basis is the developer behind Fantom community, an Ethereum Digital Machine (EVM)-compatible sensible contract platform. The community has over $45 million in property locked inside its contracts, in line with DeFiLlama. The assault was in opposition to the muse itself and never the Fantom community.

On October 17, on-chain sleuth Spreek reported that the muse was “allegedly” attacked, based mostly on a report from Telegram. They later listed the hacked wallets and estimated losses at $6.7 million, although the drained funds might have included different sources exterior the Fantom Basis. 

Associated: Fantom DEX rescued at eleventh hour following deliberate shutdown

Blockchain safety platform CertiK confirmed that the muse had been hacked however estimated the losses at solely $657,000. Delving into the blockchain knowledge exhibits that Fantom Basis Pockets 1 on Ethereum despatched over 2,000 Convex (CVX) tokens, 1,000 Dai (DAI), 4,500 USDC (USDC) and different tokens to a pockets labeled “Fake_Phishing188024.” As well as, Fantom Basis Pockets 20 on Fantom community despatched over 1 million Fantom (FTM) tokens to an account labeled “Fake_Phishing32.” When a growth group sends funds to a recognized rip-off account, this typically signifies that the group’s non-public key has been stolen. 

On the time of publication, the group has not but made an announcement relating to the incident.

Of their thread on X, Spreek acknowledged that Fantom wallets 16 and 19 have been drained of funds as nicely.

It is a growing story, and additional info will likely be added because it turns into obtainable.