Fantom Foundation Wallets Hacked and Drained in Exploit

The Fantom Foundation, the organization behind the Fantom blockchain, has been hit by a malicious attack to a number of its crypto wallets.

Attackers drained funds from Fantom Foundation's wallets on Ethereum and Fantom, according to cybersecurity firm Certik. The Foundation lost $550,000, while a Fantom employee's wallet was also drained. More than 99% of Foundation funds remain secure, the organization posted on X.

The mechanism of the attack is being actively investigated, the statement said.

The attackers consolidated the stolen funds into one address which now holds about $7M, Certik said.

The FTM token is down more than 5%, while BTC is little changed, at 4pm New York time.

At least two wallets were affected in this attack. Fantom Foundation Wallet 20 lost around $470,000 on the Fantom blockchain, and Fantom Foundation Wallet 18 lost at least $187,000 on Ethereum, Certik said.

A wallet belonging to a Fantom team member was drained of $3.4M, X user @spreakaway posted. Certik credited the user with providing information on the attack.

STORY UPDATED Oct. 17 @ 4pm EST to include statement from Fantom Foundation.