On Saturday, September 28, blockchain-focused financial platform, the Fusion Network was hacked reports Decrypt.
The Fusion Network was built with the aim of establishing a platform that supports forward-thinking applications or a cost-saving solution for businesses. They have since facilitated token swaps, such as stablecoin swaps among others.
The news was first announced by the CEO of Fusion Foundation, DJ Qian, who disclosed that the token-swap wallet, which swaps ERC-20 FSN tokens for tokens on the FSN MainNet, was compromised. Altogether, 10 million FSN tokens, native to the Fusion Network and 3.5 million ERC-20 FSN tokens were stolen, amounting to roughly 38 percent of the circulating supply.
DJ Qian revealed the news in the Fusion Telegram Group, in which he said:
“At this moment, we need to stand side by side, hand in hand to create a great wall for fusion.”
He also seems to have expressed relief in the fact that the Fusion protocol was not compromised, which is reasons is because of the protocol’s security. He further added that:
“Token stolen happened a lot of times already, we need to be very cautious.”
That said, he later shared in the group that the team has been watching ever move of the hacker, noting that they have been,
“moving those stolen FSN in order to wash the address holding FSN and sent part of them to exchanges to sell.”
As for what DJ Qian thinks might have happened, he trusts that someone with access to the foundation wallet’s private keys is to blame, adding that he has the names of the individuals and involving the police will be a consideration. In the meantime, the team is working on a program that could possibly track and trace the stolen tokens.
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