Fantom pays $1.7 million in rewards to security personnel, preventing $170 million in potential losses
After a cryptocurrency wallet belonging to the Fantom Foundation was hacked last month, the foundation paid a reward of $1.7 million to a security researcher who remains anonymous. The researcher alerted the foundation that the compromised wallet held dormant management tokens for Fantom's FTM token contract. If the hackers had discovered the management tokens in the wallet, they could have minted 1 million FTM tokens directly on the Ethereum network. With FTM trading at $0.17 at the time of the hack, the potential loss for the Fantom Foundation was estimated at $170 million.
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