A Fantom Foundation employee lost approximately 7 million dollars in cryptocurrency as a result of an attack today. Following this incident, Andre Cronje, the Director of Fantom Foundation, explained the situation as follows: ‘All of the foundation’s funds have been secured. Only personal funds were stolen in the attack.
Fantom Foundation initially emphasized that the majority of the stolen funds belonged to other users and that 99% of the foundation’s funds remained secure. They also stated that the attack had no general impact on the Fantom ecosystem and announced that they were investigating the incident.
— Fantom Foundation (@FantomFDN) October 17, 2023
Details of the attack are being investigated
However, as more details of the attack came to light, Fantom Foundation issued an official statement, explaining that some wallets had been mislabeled, and not all of the stolen funds originated from the foundation.
While some of these wallets were initially associated with the foundation, they had later been transferred to a Fantom employee and were no longer under the foundation’s control.
Fantom Foundation Loses $550,000
Subsequently, in the hours following the incident, Fantom Foundation confirmed that the affected wallets also included approximately $550,000 worth of foundation funds.
Source: The Block
