Fantom Launches Sonic Foundation to Oversee Sonic Chain
The Fantom Foundation declared the formation of the Sonic Foundation to facilitate the introduction and overseeing of its forthcoming Sonic chain. On the blockchain network’s blog on May 23, Fantom Foundation CEO Michael Kong announced the establishment of the new foundation. Kong composed: “Our team is steadfast in exploring how the Sonic chain can impact […]
Fantom Foundation Secures Default Judgment Against Multichain
The High Court of Singapore has ruled in favor of the Fantom (FTM) Foundation in a major legal dispute over the Multichain cross-chain protocol. In order for Fantom Foundation to recoup the $122 million it lost during the Multichain Fantom bridge exploit in July 2023, the court’s default judgment permits the liquidation of Multichain Foundation’s […]
Fantom Foundation Awards Researcher $1.7M in Bounty After Hack
Following the Fantom hack in October, a security researcher revealed as much as $170 million could have been lost, in recognition of the researcher’s contribution, the organization awarded him $1.7 million as bounty. Following an October breach that cost the Fantom Foundation $550,000, the Fantom Foundation, a non-profit organization that develops the Fantom blockchain platform, […]
Fantom Foundation Loses $550K via Hot Wallet Attack
Upon exposure to vulnerability from hackers, over $550,000 worth of cryptocurrency has been stolen from the Fantom Foundation, the developer of the Fantom network. The foundation confirmed the attack on X and asserted that the majority of the taken funds belonged to other users and that 99.9% of the foundation’s funds remain secure. According to […]