Hacking Incident on Fantom Foundation-related Wallets: Reports of Stolen ETH & FTM

Breaking news as the Fantom Foundation announces a significant hacking incident leading to the loss of cryptocurrencies, including ETH and FTM.

This article delves deep into the incident, the initial reports suggesting a zero-day attack via Google Chrome, and the foundation's response.

Multiple Cryptocurrencies Leaked from Fantom Foundation's Assets

The non-profit organization supporting the network operations of Fantom (FTM), known as the "Fantom Foundation," announced on October 18, 2023, that multiple wallets related to Fantom had been hacked, leading to the loss of various cryptocurrencies.

Initial reports mentioned a "zero-day attack via Google Chrome" as the exploit mechanism. However, the Fantom Foundation clarified in a post on the same day that the "attack mechanism is currently under investigation."

Additionally, some of the affected wallets were labeled "Foundation Wallets," but these were unused wallets allocated to employees. Thus, the foundation has explained that "this was a targeted attack on individuals."

Extent of Damage and Security Status of Assets

The stolen digital assets include around $550,000 worth of holdings by the Fantom Foundation. However, it is reported that "over 99% of the funds held by the Fantom Foundation are unaffected and securely stored."

While there has not been an official announcement about the details of the stolen cryptocurrencies, "CertiK Alert" reported as of the 17th that $470,000 worth of FTM and $187,000 worth of ETH had been stolen.

Additionally, it was reported that the stolen digital assets, approximately equivalent to $6.7 million, were consolidated into a wallet holding "4,501.48 ETH."