Fantom Foundation Wallets Drained; $657K Stolen

The stolen funds have been transferred to a wallet that holds around $7 million worth of ether.

AccessTimeIconOct 17, 2023 at 4:12 p.m. UTC
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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).

Edited by Sheldon Reback.


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Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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