Seedify’s SFUND Token Plunges After Cross-Chain Bridge Exploit
Seedify’s SFUND token experienced a catastrophic drop, nearly reaching zero value. The cause? A severe security breach on a cross-chain bridge. This incident left thousands of investors in shock.
The token’s value plummeted from $0.43 to almost nothing. The crash happened after hackers exploited a vulnerability in the project’s cross-chain bridge.This allowed them to create and sell massive amounts of fake tokens. The attack affected 64,000 holders and drained over $1.2 million in assets.
Founder Levent Cem Aydan confirmed the breach. He reached out to Binance’s CEO, Changpeng Zhao, for assistance. The exploit let attackers mint and sell huge amounts of SFUND tokens across various blockchains. The team quickly halted trading and disabled all bridges to stop further damage.
Seedify’s team took swift action. They blocked the attackers’ addresses and paused trading. they also asked for help from the crypto community, including Binance’s CEO. The team suspects a North korean hacking group was behind the attack.
