The Fantom Foundation declared that a number of their wallets have been compromised. According to reports, there was a loss of about $550,000 in Fantom Foundation cash earlier today in a number of Fantom wallets. That being said, it’s comforting to know that more than 99% of the Fantom Foundation’s finances are safe and undisturbed by this hack.
According to early theories, Google Chrome’s zero-day vulnerability may be the root of the problem. It’s clear that the vulnerabilities went beyond the Foundation’s official wallets, even though the precise nature and method of the attack are still being looked at.
Suspicion of a targeted attack against the Foundation and its affiliates was reinforced when one of its workers’ personal wallets was hacked. This specific hack serves as a reminder of the value of ongoing cybersecurity monitoring and the possible weaknesses in widely used systems.
Reputable cryptocurrency commentator Spreek tweeted about the occurrence. The hacked addresses, according to the published data, were at https://etherscan.io/address/0x1bffb3a232e06e06a5d9e93c8df3321f768197c2 on Ethereum and at https://ftmscan.com/address/0x596288a9090c9eedf87bb5f2da5d8e1bbc7bb935 on Fantom.
Subsequent updates from Spreek, however, revealed that numerous more Foundation wallets on Fantom and Ethereum had been depleted. Moreover, a few untagged wallets that were thought to be team members’ personal ones were also affected.
The assailant possessed noticeably superior knowledge and expertise. Their ability to unravel intricate DeFi setups indicates a thorough comprehension of the DeFi ecosystem. It is estimated that the attacker made a total profit of almost $6.7 million. A wallet that was thought to be owned by a team member suffered a substantial loss of $3.4 million.