{"id":61846,"date":"2023-10-17T18:33:27","date_gmt":"2023-10-17T22:33:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=61846"},"modified":"2023-10-17T18:33:30","modified_gmt":"2023-10-17T22:33:30","slug":"fantom-foundation-loses-550k-via-hot-wallet-attack","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/fantom-foundation-loses-550k-via-hot-wallet-attack\/","title":{"rendered":"Fantom Foundation Loses $550K via Hot Wallet Attack"},"content":{"rendered":"\n

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<\/a>.<\/p>\n\n\n\n

\"Fantom
Fantom Foundation Loses $550K via Hot Wallet Attack<\/figcaption><\/figure>\n\n\n\n

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 the statement, the team is currently investigating the assault.<\/p>\n\n\n\n

\n

pic.twitter.com\/gShkT3C9XV\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Sonic (@SonicLabs) October 17, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Initially, blockchain security<\/a> researchers reported that the attacker seized roughly $7 million in cryptocurrency.<\/p>\n\n\n\n

Later, the Fantom Foundation issued an official statement explaining that some of the “Fantom: Foundation wallet” wallets were mislabeled by block explorers and that not all misappropriated funds belonged to the foundation.<\/p>\n\n\n\n

According to the team, some of the affected purses once belonged to the foundation but had been transferred to a Fantom employee and no longer contained company funds.<\/p>\n\n\n\n

The team is investigating the attack to determine how the compromised wallets occurred.<\/p>\n\n\n\n

The Fantom Foundation is the creator of the Fantom network, a smart contract platform interoperable with the Ethereum Virtual Machine.<\/p>\n\n\n\n

According to DefiLlama<\/use><\/svg><\/span><\/a>, the network has over $45 million in assets secured by its contracts. The attack targeted the Fantom Foundation and other Fantom wallet users but not the Fantom network itself.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":1,"featured_media":61860,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[7183,1644,16786,7954],"class_list":["post-61846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-defi-hacks","tag-evm","tag-fantom-foundation","tag-hot-wallet"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-54.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=61846"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/61860"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=61846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=61846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=61846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}