$6.5M to be Stolen From Fusion Network's Wallet

CEO Dj Qian susptects insider, who had access to the private keys of affected wallet
30 September 2019   493

The price of the Fusion token (FSN) has more than doubled since the developers of the financial blockchain platform Fusion Network announced that they had hacked their wallet. This is written by Decrypt.

According to a statement published on the night of Sunday by project representatives in the official group in Telegram, as a result of breaking into the wallet for exchanging FSN tokens in ERC-20 format for tokens of the project’s own network, a total of 10 million FSN coins of the main Fusion network and 3.5 million were stolen Ethereum-based FSN tokens.

According to CoinMarketCap, this is about 38% of the current cryptocurrency offer. The amount of stolen funds at the time of the hack was estimated at about $ 6.4 million.

After it was stole, we found the [thief] kept moving those stolen FSN in order to wash the address holding FSN, and sent part of the them to exchanges to sell.
 

DJ Qian

CEO, Fusion Foundation

According to him, the tokens remaining in the wallet were transferred to a safe cold storage, and the project representatives also contacted a number of large exchanges, where the stolen tokens allegedly went, including OKEx, Huobi and Bitmax.

DJ Qian also suggested that an attacker could be a person who had access to the private keys of a hacked wallet, noting that the evidence is enough to file a corresponding statement with the police.

Fusion Network is declared as a financial blockchain platform, offering users the ability to quickly and easily exchange cryptocurrency assets and create financial applications.

P. Durov Called to Testify in SEC vs Telegram Case

To testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process
26 November 2019   224

Telegram founder Pavel Durov and two company employees must come to testify during the current trial with the US Securities and Exchange Commission (SEC), CoinDesk writes referring to a document signed on November 25 by Judge Peter Kevin Castel of the New York Southern District Court. .

According to the document, to testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process. The main meeting at which the legal status of the Gram token will be decided is still scheduled for late February.

Also on December 16 in London, testimony should be given by Telegram Vice President Ilya Perekopsky, presumably responsible for contacts with investors during tokensales. The third person called to pre-testify on December 10 in London is Syam Pareh, a Telegram employee, whose name is indicated in the documents for investors.