An Employee of Fantom Foundation Loses $7 Million in Crypto Exploit
According to on-chain data and comments from Fantom Foundation Director Andre Cronje, an employee of the Fantom Foundation has lost at least $7 million in a crypto exploit today. Cronje assured that all foundation funds are secured, but a targeted attack resulted in the theft of the employee’s personal funds.
Zero-Day Exploit in Chrome Browser
An admin in the Fantom Telegram channel revealed that the exploit was due to a zero-day vulnerability in the Chrome browser. The wallets affected belonged to the Fantom Foundation and were clearly identified as such on blockchain explorers.
Stolen Funds Found in Wallet
The stolen funds were traced to a wallet address that currently holds 4,500 ETH, valued at approximately $7 million.
Public Disclosure by Spreek
A pseudonymous individual known as Spreek publicly highlighted the exploit on X platform, bringing attention to the incident.
Hot Take: Security Vulnerabilities Remain a Concern
This incident serves as a reminder that even prominent organizations like Fantom Foundation can fall victim to security vulnerabilities. As a crypto reader, it is crucial to stay vigilant and take necessary precautions to protect your personal funds. Stay updated with the latest security practices and be cautious while using browsers or interacting with digital wallets. By staying informed and proactive, you can mitigate potential risks and safeguard your crypto assets.
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