Fantom Foundation Hit By Exploit and Loses $7M

According to data from the blockchain and statements from Fantom Foundation Director Andre Cronje, an employee of the company lost at least $7 million in cryptocurrency due to an exploit today.

Cronje reassured that all foundation funds were safe, but the employee’s personal funds were targeted and stolen in the attack.

An admin in the Fantom Telegram channel revealed that the exploit was caused by a vulnerability in the Chrome browser.

The affected wallets, which were marked as belonging to the Fantom Foundation on blockchain explorers, received a total of 4,500 ETH, equivalent to approximately $7 million.

The exploit was brought to public attention by a pseudonymous individual, referred to as Spreek on X. Later in the day, the Fantom Foundation released a statement acknowledging that funds totaling around $550,000 from the foundation had also been affected.