Two Fantom Foundation wallets on Ethereum and the Fantom Network have been targeted in a phishing attack, resulting in a loss of over $650,000. CertiK, a blockchain security firm, reported that the foundation lost $470,000 on Fantom and at least $187,000 on Ethereum. Additionally, a team member of Fantom reportedly lost $3.4 million. The attack did not compromise the Fantom network itself, but rather the foundation’s wallets.
The phishing attack involved a “zero-day” exploit on the Chrome web browser, which allowed the threat actor to exploit a vulnerability unknown to the developer. The Fantom Foundation admitted that they had not updated their browser to the latest version, leaving them susceptible to the attack. As a result of the incident, the price of FTM, the native cryptocurrency of the Fantom ecosystem, fell approximately 5% and is now approaching multi-month lows.
The scammers behind the attack consolidated the stolen funds into one account, which currently holds at least $7 million worth of various coins. The address associated with the account has been identified as a facilitator of multiple phishing campaigns targeting crypto and decentralized finance projects.
The Fantom Foundation is a non-profit organization dedicated to supporting the growth and development of the Fantom ecosystem. Fantom is a scalable, layer-1 blockchain that is compatible with Ethereum and allows for the deployment of smart contracts. The foundation is actively tracking the movement of the stolen funds.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | negative |
| Relevance Score | 1 |
| People | None |
| Companies | Reddit, Fantom Foundation, Chrome, Etherscan, CertiK |
| Currencies | Fantom |
| Securities | None |
