June 25, 2024

$ 6.5 million stolen from Fusion Network wallet. Project creators suspect insiders

The price of the Fusion (FSN) token fell by more than half after the developers of the financial blockchain platformFusion Network announced that their wallet has been hacked. Decrypt writes about this.

According to published on Sunday nightAccording to the statement of the project representatives in the official group in Telegram, as a result of breaking into the wallet for exchanging FSN tokens in ERC-20 format for tokens of the project’s own network, a total of 10 million FSN coins of the main Fusion network and 3.5 million Ethereum-based FSN tokens were stolen.

According to CoinMarketCap, this is about 38% of the current cryptocurrency offer. The amount of stolen funds at the time of the hack was estimated at about $ 6.4 million.

“We found out that in order to conceal the address, the attacker moved the stolen FSNs by sending part of the tokens to exchanges for sale”,— wrote Fusion Foundation CEO DJ Qian.

According to him, the tokens remaining in the wallet weremoved to a safe cold store, the project also contacted a number of major exchanges where the stolen tokens allegedly went, including OKEx, Huobi and Bitmax.

DJ Qian also suggested that the attackerthere may be a person who had access to the private keys of a hacked wallet, noting that the evidence is enough to apply to the police.

Amid a Fusion Foundation wallet hackFSN has plummeted, dropping 52% in the last 24 hours. At the time of publication, the coin occupying 316th place in the CMC rating is trading at around $ 0.23. Shortly before the incident, its weighted average rate was just over $ 0.50.

$ 6.5 million stolen from Fusion Network wallet. Project creators suspect insiders


Fusion Network is declared as a financial blockchain platform, offering users the ability to quickly and easily exchange cryptocurrency assets and create financial applications.

Recall that earlier in September, U.S. authorities charged two hackers suspected of breaking the EtherDelta exchange in December 2017.