{"id":555808,"date":"2023-10-18T00:00:13","date_gmt":"2023-10-18T00:00:13","guid":{"rendered":"https:\/\/ktsl888.com\/?p=555808"},"modified":"2023-10-17T19:28:11","modified_gmt":"2023-10-17T19:28:11","slug":"fantom-foundation-wallets-drained-pain-ftm-prices-tank","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/fantom-foundation-wallets-drained-pain-ftm-prices-tank\/","title":{"rendered":"Fantom Foundation Wallets Drained, More Pain For FTM Holders As Prices Tank"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Two Fantom Foundation wallets on Ethereum and the Fantom Network have fallen victim to a phishing attack, losing over $650,000, according to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/CertiKAlert\/status\/73418763?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">reports<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from CertiK, a blockchain security firm. Another report by &#8220;Spreakaway&#8221; on X\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/spreekaway\/status\/70084521\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">alleges<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that one of Fantom&#8217;s team members also lost $3.4 million.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Fantom Foundation Falls Victim To Phishing Attack<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Fantom Foundation is a non-profit organization dedicated to supporting the growth and development of the Fantom ecosystem. On the other hand, Fantom is a scalable, layer-1 blockchain that is compatible with Ethereum. Like the world&#8217;s most valuable network, the platform supports the deployment of smart contracts. For clarity, Fantom&#8217;s network was not hacked; the foundation&#8217;s wallets were compromised.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/time-to-cash-out-bitcoins-4-hour-rsi-triggers-sell-indicator\/\" target=\"_blank\" rel=\"noopener \">Time To Cash Out? Bitcoin\u2019s 4-Hour RSI Triggers Sell Indicator<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">According to CertiK, the Fantom Foundation lost $470,000 on Fantom and at least $187,000 on Ethereum. Following the attack, Etherscan data <a href=\"https:\/\/etherscan.io\/address\/0x0b1f29df74a19c44745862ab018d925501fe9596\" target=\"_blank\" rel=\"noopener nofollow\">show<\/a> that the scammers consolidated funds into one account, holding at least $7 million of various coins. The address has already been marked and identified as a facilitator of multiple phishing campaigns impacting crypto and decentralized finance (DeFi) projects.\u00a0<\/span><\/p>\n<figure id=\"attachment_555809\" aria-describedby=\"caption-attachment-555809\" style=\"width: 933px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-555809\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot422.png?resize=933%2C495\" alt=\"Fantom Foundation stolen funds| Source: Etherscan\" width=\"933\" height=\"495\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot422.png?w=933 933w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot422.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot422.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot422.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot422.png?w=750 750w\" sizes=\"(max-width: 933px) 100vw, 933px\"><figcaption id=\"caption-attachment-555809\" class=\"wp-caption-text\">Fantom Foundation stolen funds| Source: Etherscan<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Reports on Reddit\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.reddit.com\/r\/CryptoCurrency\/comments\/17a1c9j\/according_to_fantom_foundation_admin_some_of_the\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">show<\/span><\/a><span data-preserver-spaces=\"true\"> that Fantom Foundation fell victim to a &#8220;zero day&#8221; exploit on Chrome, a web browser, resulting in the loss of hundreds of thousands worth of FTM. In a screenshot of a Telegram conversation said to have been shared by a Fantom admin, the foundation acknowledged that &#8220;some&#8221; of their wallets were &#8220;drained.&#8221; They are actively tracking the movement of stolen funds.\u00a0<\/span><\/p>\n<figure id=\"attachment_555811\" aria-describedby=\"caption-attachment-555811\" style=\"width: 589px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-555811\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot423.png?resize=589%2C360\" alt=\"Telegram communication| Source: Reddit \" width=\"589\" height=\"360\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot423.png?w=589 589w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Screenshot423.png?w=460 460w\" sizes=\"(max-width: 589px) 100vw, 589px\"><figcaption id=\"caption-attachment-555811\" class=\"wp-caption-text\">Telegram communication| Source: Reddit<\/figcaption><\/figure>\n<h2><span data-preserver-spaces=\"true\">Zero Day Exploit, FTM Sinks Even Lower<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">\u00a0A zero-day exploit is a vulnerability unknown to the developer or its tech team, who might be able to fix it. Because the flaw isn&#8217;t known to the team, the threat actor can exploit it until it is patched. This is why zero-day exploits can be consequential, especially for DeFi protocols whose infrastructure relies on flawed software. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-whale-32-4-million-shib\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Whale Moves $32.4 Million In SHIB, Large Sell Incoming?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">In the same screenshot shared on Reddit, a representative of Fantom Foundation said they didn&#8217;t update their browser to the latest version. The latest Chrome browser update, version 118.0.5993.70, was <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.whatismybrowser.com\/guides\/the-latest-version\/chrome\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">released<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0on October 11.<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/N1zCA6l9\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/N1zCA6l9\/\" alt=\"FTM price on October 17| Source: FTMUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">FTM price on October 17| Source: <a href=\"https:\/\/www.tradingview.com\/x\/N1zCA6l9\/\" target=\"_blank\" rel=\"noopener nofollow\">FTMUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Following this news, FTM fell roughly 5% and is now rocking close to multi-month lows. If bears press on, the coin may drop below 2022 lows. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As such, it will reverse all gains made in the first half of 2023. At this year&#8217;s peaks, FTM prices rose to as high as $0.65 in February 2023 before contracting to spot rates. The coin is trading at approximately $0.17 and under intense selling pressure.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Two Fantom Foundation wallets on Ethereum and the Fantom Network have fallen victim to a phishing attack, losing over $650,000, according to\u00a0reports\u00a0from CertiK, a blockchain security firm. Another report by &#8220;Spreakaway&#8221; on X\u00a0alleges\u00a0that one of Fantom&#8217;s team members also lost $3.4 million. Fantom Foundation Falls Victim To Phishing Attack Fantom Foundation is a non-profit organization dedicated to supporting the growth and development of the Fantom ecosystem. On the other hand, Fantom is a scalable, layer-1 blockchain that is compatible with Ethereum. Like the world&#8217;s most valuable network, the platform supports the deployment of smart contracts. For clarity, Fantom&#8217;s network was not hacked; the foundation&#8217;s wallets were compromised. Related Reading: Time To Cash Out? Bitcoin\u2019s 4-Hour RSI Triggers Sell Indicator According to CertiK, the Fantom Foundation lost $470,000 on Fantom and at least $187,000 on Ethereum. Following the attack, Etherscan data show that the scammers consolidated funds into one account, holding at least $7 million of various coins. The address has already been marked and identified as a facilitator of multiple phishing campaigns impacting crypto and decentralized finance (DeFi) projects.\u00a0 Reports on Reddit\u00a0show that Fantom Foundation fell victim to a &#8220;zero day&#8221; exploit on Chrome, a web browser, resulting in the loss of hundreds of thousands worth of FTM. In a screenshot of a Telegram conversation said to have been shared by a Fantom admin, the foundation acknowledged that &#8220;some&#8221; of their wallets were &#8220;drained.&#8221; They are actively tracking the movement of stolen funds.\u00a0 Zero Day Exploit, FTM Sinks Even Lower \u00a0A zero-day exploit is a vulnerability unknown to the developer or its tech team, who might be able to fix it. Because the flaw isn&#8217;t known to the team, the threat actor can exploit it until it is patched. This is why zero-day exploits can be consequential, especially for DeFi protocols whose infrastructure relies on flawed software. Related Reading: Shiba Inu Whale Moves $32.4 Million In SHIB, Large Sell Incoming? In the same screenshot shared on Reddit, a representative of Fantom Foundation said they didn&#8217;t update their browser to the latest version. The latest Chrome browser update, version 118.0.5993.70, was released\u00a0on October 11. Following this news, FTM fell roughly 5% and is now rocking close to multi-month lows. If bears press on, the coin may drop below 2022 lows. As such, it will reverse all gains made in the first half of 2023. At this year&#8217;s peaks, FTM prices rose to as high as $0.65 in February 2023 before contracting to spot rates. The coin is trading at approximately $0.17 and under intense selling pressure. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":555813,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[9376,85615,89676,43491,85756,3425],"class_list":["post-555808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-fantom","tag-fantom-foundation","tag-fantom-price","tag-ftm","tag-ftmusdt","tag-phishing"],"acf":[],"yoast_head":"\n<title>Fantom Foundation Wallets Drained, More Pain For FTM Holders As Prices Tank<\/title>\n<meta name=\"description\" content=\"Two Fantom Foundation wallets were drained, losing over $650,000 of coins. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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