Fusion Hacked? CEO Says That 10M FSN Tokens are Gone

By Sarah Tran   Sep 29, 2019 1 Min Read

Webp.net-resizeimage (43).jpg

 

The blockchain-based financial platform, Fusion Network has  announced  a compromised wallet on Sept. 28. The Fusion swap wallet compromise resulted in a theft of 10 million native FSN tokens.    

 

On Sept.28, Fusion Foundation’s CEO, DJ Qian announced in the official telegram group that the token-swap wallet with an Ethereum address to swap ERC-20 FSN tokens for the tokens on the FSN mainnet had been compromised.  

 

Qian announced on the telegram group:  

"After it was stole, we found the [thief] kept moving those stolen FSN in order to wash the address holding FSN, and sent part of the them to exchanges to sell.” 

The theft was due to a compromise of the swap wallet’s private key after the private key was stolen, abnormal wash-trading of the tokens were observed, in exchanges such as Bitmax and Hotbit. The loss of funds appeared to have been worth approximately $6.4 million at the time of the hack.   

 

The remaining tokens in the wallet had been moved to a cold storage address, while major exchanges such as OKEx, Huobi, and Bitmax had been contacted.  

 

Qian stated that a certain individual with access to the foundation’s wallet’s private keys was to blame and has collected evidence that is substantial enough to be reported to the police.   


About the author

Sarah Tran    📧
Blockchain Journalist




Like this post:
Follow Us:
Recommended