Back
Seedify’s $SFUND Bridge Hack Impacts 64,000 BNB Chain Users

Seedify’s $SFUND Bridge Hack Impacts 64,000 BNB Chain Users

Seedify's cross-chain bridge hack results in significant financial losses, with over $1.2 million in stolen funds and ongoing investigation by BNB Chain and law enforcement.

BNB

Fact Check
The statement is directly and consistently supported by multiple sources. Evidence from Bitget (Source 1) and Cryptobriefing (Source 5) explicitly states that the Seedify $SFUND bridge hack affected '64,000 holders of the SFUND token on the BNB Chain.' Numerous other sources corroborate the occurrence of the bridge hack on the BNB chain. No provided evidence contradicts this specific number.
    Reference: 123
Summary

SFUND’s cross-chain bridge was hacked, with the attacker minting and selling SFUND tokens across multiple chains, accumulating over $1.2 million in BNB. $200,000 was frozen by HTX, following tracking efforts by CZ and the security team. Major exchanges blacklisted the addresses involved, suspecting ties to North Korea. The BNB Chain team is investigating the breach.

Terms & Concepts
  • DeFi Bridge: A cross-chain protocol enabling asset transfers between different blockchain networks, often targeted due to its role in liquidity movement.
  • BNB Chain: A blockchain network developed by Binance, supporting smart contracts, DeFi applications, and a wide ecosystem of tokens.
  • Exploit: A malicious act leveraging vulnerabilities in smart contracts or blockchain systems to gain unauthorized control or funds.