The Fantom Foundation, creator of the Fantom network, recently experienced a hack resulting in a loss of over $550,000 in cryptocurrency. Learn about the attack, the initial confusion over the extent of the theft, and ongoing investigations.
The Fantom Foundation, responsible for developing the Fantom network, recently fell victim to a hack that led to a loss of over $550,000 in cryptocurrency. The incident was confirmed by the foundation on social media, where they asserted that the stolen amount represented less than 1% of their total funds. Additionally, it was reported that other users of Fantom wallets were affected by this security breach.
Initially, blockchain security researchers claimed the attacker had made off with approximately $7 million in crypto. However, the Fantom Foundation issued an official statement clarifying that not all of the stolen funds were theirs. Some of the affected wallets had been incorrectly labeled as belonging to the foundation when, in fact, they were reassigned to a Fantom employee and no longer held company funds. An investigation is currently underway to ascertain the details of the breach.
It’s important to note that this attack targeted the Fantom Foundation and other users of Fantom wallets, rather than the Fantom network itself.
