The Fantom Foundation has suffered a major security breach, resulting in the loss of $6.7 million dollars worth of digital currency. The breach occurred when an unidentified hacker was able to gain access to the company’s wallet, allowing them to take the funds.
The company stated that it had taken all appropriate steps to secure its system, but the hacker was still able to gain access. They also revealed that the company is conducting a thorough investigation of the incident.
The Fantom Foundation is a smart-contract platform based on the directed acyclic graph (DAG) technology. It enables users to quickly and securely send and receive payments over the blockchain.
While the company is still investigating the incident, it has suggested that the user responsible for the breach gained access through a vulnerability in an external library used by the project.
The company has stated that it is taking all necessary steps to ensure the security of its funds and customers and is working with both the law enforcement and members of the security community to investigate the incident further. The company is also in constant communication with all its partners and customers.
In the wake of this incident, the company has recommended users to ensure the security of their wallets, using two-factor authentication and strong passwords. Additionally, they have also suggested avoiding using third-party services as intermediaries of wallets.