Fusion Network's token swap wallet was compromised.
Roughly a third of FSN tokens was stolen as a result.
Fusion Foundation announced in a Medium post published on Sept. 29 that its swap wallet was compromised, which resulted in the theft of 10 million native FSN and 3.5 million Ethereum-based ERC-20 FSN tokens.
The Foundation's investigation has not revealed any other affected wallets so far.
"After the currency was stolen, abnormal wash-trading behaviour occurred, and some of the stolen tokens were sold across exchanges, in particular Bitmax and Hotbit."
The attacker reportedly obtained access to the wallet by stealing the private key associated with it.
The author of the post claims that "The Fusion Protocol and technology itself has been and remains secure."
In an attempt to prevent the laundering of the funds in question, deposits and withdrawals of FSN tokens have been reportedly suspended on cryptocurrency exchanges such as Huobi, OKEx, Bitmax, Citex and Hotbit.
All the funds remaining in the token swap wallet were moved to a cold wallet, abnormal transactions are being tracked.
As of press time, FSN is trading at around $0.174 - over 66% lower than the one it traded at yesterday, according to Coin360 data.
Fusion Network's Token Swap Wallet Compromised, FSN Price Plummets
에 게시 됨 Sep 29, 2019
by Cointele | 에 게시 됨 Coinage
Coinage
최근 뉴스
모두보기
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.