Sfund’s token price fell 59.8% today after Bridge Hack ran out of undecided funds. At least $1.2 million is currently sitting on Bnbchain, but rumors have estimated that around $8.8 million will be stolen.
Crypto Sleuths argues that on-chain evidence links some of theft wallets to infectious interviews, a group of North Korean hackers. Another dangerous organization may try bolder crimes.
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Sfund Hack leaves unanswered questions
The Web3 incubator and Launchpad, Seedify Fund has been carrying several ecosystem features using SFUND tokens over the past few years.
Unfortunately, the platform suffered a major setback today, however, as one of the founders notified the community of major SFUND hacks.
Rumors quickly began to spread that the hacker had stole $8.8 million, but this seems to be an exaggeration. The hack targeted the SFUND bridge rather than the core token.
Sleuths currently suspects that the vulnerability includes cross-chain messaging or bridge logic, but there is no explicit confirmation.
The developer also warned the community not to use SFUND bridges for the time being, as they could be vulnerable to future hacking. They also asked if former Vinance CEO CZ could help freezing the roughly $1.2 million buried in Bnbchain.
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Apparently, the perpetrator has not actually done any major token dumps yet. Nonetheless, the hack was still enough to cause a big hit to the token value of SFUND.
North Korea’s connection?
To answer some of these questions and recover SFUND stolen in the hack, Seedify offered a “huge bounty” to Zachxbt, a well-known crypto detective. Zack has already contributed to the investigation, claiming that on-chain evidence links theft wallet to North Korean hackers.
Cryptographic theft from DPRK is a growing issue in the industry, and this is another disturbing incident. He identified the infectious interview as a specific organization involved in the SFUND hack. In other words, it wasn’t the Lazarus group, the most famous North Korean costume.
In other words, depending on how this hack was performed, another ring of North Korean crypto criminals could be prominently rising.
If a contagious interview that has been active for years is expanding its ambitions, the entire community may need to be on guard.
