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Fantom Foundation Wallets Drained; $657K Stolen
The stolen funds have been transferred to a wallet that holds around $7 million worth of ether.
The foundation wallets of the Fantom blockchain have been drained on both Ethereum and Fantom, according to blockchain security analyst Certik.
The foundation wallet on FTM lost $470,000 whilst on Ethereum $187,000 was drained. The FTM price fell 4.8% to $0.1778 following the exploit.
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"There was zero day exploit on chrome because of that some of Fantom foundation wallet got drained. Fantom losses were in the hundreds of thousands of dollars and we are actively tracking the movements of lost funds," an administrator on the community Telegram wrote.
The stolen funds have been transferred to a wallet that holds around $7 million worth of ether (ETH).
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
