DeFi News Official TheBitTimes.com

Fantom Foundation's wallet was reportedly drained of funds by a “Fake_Phishing” account. Fantom Foundation, developers of the Fantom network, have reportedly been hacked for over $6.7 million worth of cryptocurrency.  Blockchain data shows that an address labeled “Fake_Phishing188024” was sent over 2,000 Convex (CVX) tokens and other cryptocurrencies from a known Fantom Foundation wallet. On-chain sleuth Spreek reported the attack on X (formerly Twitter) and estimated losses at $6.7 million. Security platform CertiK has estimated losses at only $657,000. The Foundation has yet to confirm the attack. total attacker profit (may not all necessarily be from fantom or related wallets) seems to be ~$6.7m pic.twitter.com/0rkDHULsdI — Spreek (@spreekaway) October 17, 2023 The Fantom Foundation is the developer behind Fantom network, an Ethereum Virtual Machine (EVM)-compatible smart contract platform. The network has over $45 million in assets locked within its contracts, according ...

Multichain has suspended its operations after an unexplained transfer of crypto assets worth millions of dollars took place on July 6. Stablecoin issuers Circle and Tether have frozen over $65 million in assets tied to the suspected exploit of cross- chain router protocol Multi chain . The move follows unexplained large outflows from the Multi chain MPC bridge on July 6.  According to the knowledge graph protocol 0xScope, three addresses that received at least $63.2 million in USD Coin (USDC) from Multi chain are now frozen. Another report from the Fantom Foundation notes that more than $2.5 million in Tether (USDT) had also been frozen from two addresses listed by Etherscan as "Multi chain Suspicious Addresses". Over $125 million worth in cryptocurrencies were withdrawn from multiple wallets on July 6, affecting Multichain’s Fantom bridge, as well Dogechain, Moonriver, Kava and Conflux's ecosystems. The cause of the abnormal transfer of assets remains unclear. Upd...