The Fantom Foundation, a rival of Ethereum, has fallen victim to a major exploit, resulting in the loss of funds. According to blockchain security experts, the foundation’s wallets have been drained of both Ethereum (ETH) and Fantom (FTM) tokens. The CertiK Alert platform confirms that the foundation’s Wallet 20 lost approximately $470,000 worth of FTM, while Wallet 18 lost at least $187,000 worth of ETH. The total amount stolen is estimated to be around $7 million. The stolen funds have been consolidated into an Ethereum address, which currently holds 4,501.48 ETH. This incident adds to the growing number of crypto-related hacks and scams, with a recent report revealing that $889.26 million was lost in Q3 of 2023 alone. The losses in Q3 surpassed the combined losses of Q1 and Q2, highlighting the increasing vulnerability of the crypto industry.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	CertiK Alert, Beosin EagleEye, Fantom Foundation
Currencies	Fantom, Ethereum
Securities	None