Foundation wallets of the Fantom blockchain have been relieved of $657K in both Ethereum and Fantom, marking a concerning security breach.
According to blockchain security analyst Certik discovered the security exploit. The Fantom wallet (FTM) lost $470,000, and $187,000 was drained from Ethereum.
The FTM price took a hit following this event, falling 4.8% to $0.1778.
A community administrator on Telegram explained, “There was a 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.”
The stolen cryptocurrency has reportedly been moved to a wallet that possesses roughly $7 million in ether (ETH).
The Fantom Foundation is working to trace the lost funds.
Read Now: Israel puts a freeze on Binance accounts suspected of Hamas links