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A recent cyberattack targeting Seedify, a platform that supports Web3 gaming projects, resulted in the theft of around $1.2 million.
The attackers targeted a security flaw within the service’s cross-chain token bridge, a system used to transfer tokens across various blockchain networks.
According to Seedify’s official statement, the breach occurred on September 23 and involved unauthorized token creation on the BNB
$1,011.94
Chain.
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This allowed the attackers to withdraw funds from liquidity pools spread across Ethereum
$4,110.94
, Arbitrum
$0.4264
, and Base networks. Once drained, the assets were converted back to BNB Chain.
ZachXBT linked the wallets involved in this incident to past attacks attributed to North Korean hacker groups. His post on X pointed to similar patterns seen in other blockchain-related breaches.
A recent report by SentinelLABS found that more than 230 entities were affected by similar activity in just the first quarter of the year.
Following the breach, Seedify’s native token, SFUND, experienced a price drop of around 35% within 24 hours.
The founder of Seedify, known online as Meta Alchemist, said in a post on X that years of work had been undone in a single attack.
In its detailed response, Seedify explained that the exploited contract mistakenly allowed tokens to be minted without any bridging activity, a failure that enabled the entire incident.
On September 23, a security breach occurred at UXLink, a Web3-based social platform that uses artificial intelligence (AI). How? Read the full story.
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