Fantom Foundation Hacked for Over $7,000,000 Worth of Ethereum (ETH) and FTM: Report

The foundation behind the Ethereum (ETH) rival Fantom (FTM) just suffered a major exploit, according to blockchain security experts.

According to posts on social media platform X from CertiK Alert, wallets belonging to the Fantom Foundation have just been drained of ETH and FTM.

“Fantom Foundation wallets have been drained on Ethereum and Fantom

So far we can confirm:

Fantom: Foundation Wallet 20 lost ~$470,000 on FTM

Fantom: Foundation Wallet 18 lost at least ~$187,000 on ETH

We will continue to track.”

According to the pseudonymous online analyst Spreek, the hack is totaling up to nearly $7 million.

“Total attacker profit (may not all necessarily be from Fantom or related wallets) seems to be ~$6.7 million”

CertiK Alert also shares the Ethereum address of the apparent attacker.

“Stolen funds have been consolidated into EOA 0x0b1 which holds 4,501.48 ETH (~$7 million)”

Earlier this month, blockchain security firm Beosin EagleEye reported that $889,260,000 in crypto has been lost to hacks, scams and rug pulls in Q3 of 2023 alone.

“Among them, 43 major attacks resulted in a total loss of approximately $540.16 million. Phishing scams accounted for a total loss of approximately $66.15 million, and there were 81 rug pulls with a total loss of approximately $282.96 million…

The losses in Q3 2023 exceeded the total for the first half of 2023. The losses were about $330 million in Q1 2023 and $333 million in Q2 2023, while reaching $889.26 million in Q3.”