Fantom Foundation awards $1.7M bounty for preventing $170M drain
The Fantom Foundation, a nonprofit organization developing the Fantom blockchain platform, has eliminated a significant vulnerability after a $550,000 hack in October.On Oct. 17, the Fantom Foundation suffered a hot wallet hack, with an unknown attacker draining 1% of Fantom Foundation’s f ...
Fantom Foundation hacked for an estimated $6.7M: Report
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 kno ...
Another Fantom project winds down citing Multichain exposure
SpiritSwap, a decentralized exchange (DEX) built on smart contract platform Fantom, will wind down operations starting Sept. 1, citing exposure to troubled Chinese cross-chain protocol Multichain.In the Aug. 9 announcement via Discord, developers revealed that the Multichain hack left Spir ...
‘Multichain was a big blow’, says Andre Cronje as Fantom TVL slumps
Fantom's co-founder Andre Cronje classified Multichain's debacle as a "big blow" to the smart contract platform, which saw a sharp decline in activity in the past weeks as a result of Multichain's problems. According to data from DefiLlama, Fantom's total value locked (TVL) dropped fr ...
Crypto lender Geist Finance shuts down permanently over Multichain hack
Lending protocol Geist Finance is shutting down permanently due to losses from the Multichain exploit, according to a July 14 social media post from the app’s development team. Geist contracts were paused on July 6, then resumed in “withdraw and repay only” mode on July 9. The l ...
Multichain attack triggers Twitter phishing scheme for FTM distribution
Hackers continue their relentless attacks, displaying no signs of slowing down. Shortly after the Multichain hack, scammers started spreading a phishing link on Twitter.The fraudulent distribution of Fantom (FTM) to users — falsely linked to the Multichain attack — is rapidly s ...
Circle, Tether freezes over $65M in assets transferred from Multichain
Stablecoin issuers Circle and Tether have frozen over $65 million in assets tied to the suspected exploit of cross-chain router protocol Multichain. The move follows unexplained large outflows from the Multichain MPC bridge on July 6. According to the knowledge graph protocol 0xScope, ...
Fantom starts paying developers to generate gas fees
A new program from the Fantom Opera network (FTM) team will pay developers for the gas fees they generate from users, according to a May 31 announcement. Specifically, the “Gas Monetization Program” will pay eligible developers 15% of the total gas fees their apps generate. ...
Fantom Developers Introduce Monetization Program for Cryptocurrency Projects
Fantom developers said that cryptocurrency projects that use this blockchain and contribute to high fees will now receive 15% of the transaction fee. Fantom-based projects will need to submit a special application for additional monetization. The developers stressed th ...