Fantom Foundation Wallet Hack: Hundreds of Thousands of Dollars Lost

Key Points:

• Fantom Foundation wallet hacked for $6.7 million in cryptocurrency.
• Hackers used a phishing wallet to steal over 2,000 Convex (CVX) tokens and other cryptocurrencies from Fantom Foundation Wallet 1 on the Ethereum network.
• Hackers also transferred over 1 million Fantom (FTM) tokens from Fantom Foundation Wallet 20 on the Fantom network to another phishing wallet.

According Blockchain security platform CertiK, Fantom Foundation Wallet Hack Results in Loss of $657,000 Million across both the Fantom and Ethereum networks.

$657k was stolen from Fantom Foundation wallet hack

The blockchain data reveals that an address labeled as “Fake_Phishing188024” initiated the transfer of over 2,000 Convex (CVX) tokens and various other cryptocurrencies from a recognized Fantom Foundation wallet. On-chain investigator Spreek disclosed this breach on social media platform X (formerly Twitter) and estimated the total losses at $6.7 million.

A closer examination of the blockchain data uncovers that Fantom Foundation Wallet 1, located on the Ethereum network, sent out more than 2,000 Convex (CVX) tokens, 1,000 Dai (DAI), 4,500 USDC, and several other tokens to a wallet labeled “Fake_Phishing188024.” Additionally, Fantom Foundation Wallet 20, which operates on the Fantom network, transferred over 1 million Fantom (FTM) tokens to an account marked as “Fake_Phishing32.”

CertiK, a prominent blockchain security platform, has also verified the breach and confirmed losses of at least $657,000 across both the Fantom and Ethereum networks. As of the time of this report, Fantom Foundation has not released any official statements or announcements regarding the breach.

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