Fantom Foundation Suffers Hack via Google Chrome Flaw

The Fantom Foundation is grappling with a security breach that compromised its blockchain networks. Hackers exploited a zero-day vulnerability in Google Chrome, directly impacting the foundation’s operations. This attack led to the illicit transfer of funds estimated at $657,000, marking one of the numerous security episodes unsettling the blockchain realm this month. The Fantom and Ethereum networks, integral to the foundation, witnessed over 35 wallets drained of their resources.

Internal communications within the Fantom Foundation’s community, especially on Telegram, brought this issue to light. Users were the first to disclose these unsettling developments. However, the foundation’s substantial assets, primarily secured in cold wallets, remained untouched, offering relief amidst the turmoil.

Hackers Drain Fantom Wallets Heavily

Blockchain security watchdog CertiK officially confirmed the intrusion. The compromised sum contrasts with the community reports, pegging the financial damage at a relatively modest $657,000. Despite the figures’ discrepancy, the security lapse’s gravity remains undiminished. Analysis of blockchain activities reveals that the attackers, masquerading under the identifier “Fake_Phishing188024,” received various cryptocurrencies from the foundation’s wallets.

The details get grimmer as data indicates another transaction. Over 1 million Fantom tokens were transferred from the foundation’s Wallet 20 to an entity behind the alias “Fake_Phishing32” on the Fantom network. These transactions typically suggest a private key theft, a critical security compromise for any blockchain entity.

TrueUSD and Galxe Suffer Major Breaches

This incident isn’t isolated, as digital platforms face increased threats. Just recently, TrueUSD experienced a breach due to third-party vendor vulnerabilities, exposing sensitive customer data. The Web3 platform Galxe also fell victim to a DNS attack, incurring losses close to $500,000. These events highlight the escalating digital warfare targeting blockchain and DeFi projects.

Read Also: FTX Bankruptcy Payout for Clients Expected by Mid-2024

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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

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