In a recent security breach, the Fantom Foundation, the pioneering force behind the Fantom network, faced a harrowing attack resulting in the loss of more than $550,000 worth of cryptocurrency. Confirmation of this breach came directly from the foundation itself, as they acknowledged the incident on X, with the assertion that a vast majority of the pilfered assets were from external users. The foundation sought to reassure stakeholders by emphasizing that an overwhelming 99% of their own assets remained untouched. Currently, an intensive investigation into the breach is underway, the foundation reported.
Initial reports from blockchain security experts had suggested that the assailant made off with around $7 million in various cryptocurrencies. However, the Fantom Foundation later issued an official statement contesting these claims. They revealed that some of the wallets mislabeled as “Fantom: Foundation wallet” by block explorers no longer contained assets belonging to the foundation. Instead, these wallets had been reassigned to a Fantom employee and were no longer holding company assets. The foundation is actively delving into the specifics of the breach to ascertain how these wallets were compromised.
