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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.
Updated Oct 17, 2023, 4:12 p.m. Published Oct 17, 2023, 4:12 p.m.
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.
"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 joined CoinDesk as a news reporter in April 2022. Before joining CoinDesk, Knight was the Chief Reporter at Coin Rivet for three years. Having graduated with a journalism degree from Birmingham City University, Knight went on to work at various sports publications before diving into the world of Bitcoin in 2014. He does not have any crypto holdings.
