{"id":11619,"date":"2025-09-26T10:47:34","date_gmt":"2025-09-26T10:47:34","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=11619"},"modified":"2025-09-26T10:47:39","modified_gmt":"2025-09-26T10:47:39","slug":"seedifys-sfund-token-collapses-nearly-100-after-cross-chain-exploit","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/09\/26\/seedifys-sfund-token-collapses-nearly-100-after-cross-chain-exploit\/","title":{"rendered":"Seedify\u2019s SFUND Token Collapses Nearly 100% After Cross-Chain Exploit"},"content":{"rendered":"\n<p>Seedify\u2019s <strong>SFUND token<\/strong> was virtually wiped out in minutes on September 23 after a devastating exploit of its cross-chain bridge. The token plunged from <strong>$0.43 to near zero<\/strong>, briefly stabilizing around $0.21, according to CoinMarketCap.<\/p>\n\n\n\n<p>The collapse left <strong>64,000 holders<\/strong> affected and about <strong>$1.2 million in assets<\/strong> compromised, sparking a scramble to contain the damage and appeals for outside help.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How the Exploit Happened<\/h3>\n\n\n\n<p>Founder <strong>Levent Cem Aydan<\/strong> confirmed that attackers had gained access to a developer\u2019s private keys, which allowed them to manipulate the bridge contract on Avalanche. This gave them the ability to <strong>mint massive amounts of unauthorized SFUND<\/strong> and dump the tokens across multiple blockchains.<\/p>\n\n\n\n<p>Seedify later attributed the attack to a <strong>DPRK state-affiliated group<\/strong>, highlighting the increasing sophistication of such exploits. What makes the situation even more unsettling is that the compromised contract had previously passed an audit by a reputable security firm.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Seedify\u2019s Response<\/h3>\n\n\n\n<p>Within hours, Seedify issued a statement on X outlining its emergency measures:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Trading was <strong>halted across centralized exchanges<\/strong>.<\/li>\n\n\n\n<li>Malicious wallets were <strong>blacklisted across multiple chains<\/strong>.<\/li>\n\n\n\n<li>All cross-chain bridges were <strong>temporarily disabled<\/strong>.<\/li>\n\n\n\n<li>Compromised permissions were <strong>revoked<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>The team reassured its community that there was <strong>no ongoing risk to BNB Chain liquidity<\/strong> and pledged to rebuild stronger:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSince 2021, Seedify has been a home for builders and everyone dedicated to creating value in the Web3 ecosystem, through both bull and bear. This unfortunate event won\u2019t stop us it only ignited our team to build better and bigger from here.\u201d<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Appeals for Help<\/h3>\n\n\n\n<p>The severity of the hack prompted Aydan to take unusual steps. In addition to appealing directly to <strong>Binance founder Changpeng Zhao<\/strong> for support, he offered blockchain investigator <strong>ZachXBT<\/strong> a bounty if he could help trace the stolen funds and identify the attackers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Bigger Picture<\/h3>\n\n\n\n<p>The Seedify exploit is one of the sharpest token collapses in recent memory, underlining the risks tied to cross-chain bridges a frequent target of sophisticated hacker groups.<\/p>\n\n\n\n<p>While the team has moved quickly to contain the fallout, the attack raises broader concerns about vulnerabilities in Web3 infrastructure, even for projects that undergo audits.<\/p>\n\n\n\n<p>For Seedify and its community, the road ahead will be focused on <strong>restoring trust, tightening security, and rebuilding momentum<\/strong> in the wake of a near-total collapse.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seedify\u2019s SFUND token was virtually wiped out in minutes on September 23 after a devastating exploit of its cross-chain bridge. The token plunged from $0.43 to near zero, briefly stabilizing around $0.21, according to CoinMarketCap. The collapse left 64,000 holders affected and about $1.2 million in assets compromised, sparking a scramble to contain the damage&#8230;<\/p>\n","protected":false},"author":3,"featured_media":11620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73,63],"tags":[522,1730,121],"class_list":["post-11619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-crypto-news","tag-fund","tag-seedify","tag-trade"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Seedify\u2019s SFUND Token Collapses Nearly 100% After Cross-Chain Exploit - Crypto News<\/title>\n<meta name=\"description\" content=\"Seedify\u2019s SFUND token collapsed nearly 100% after a cross-chain bridge exploit let attackers mint and dump tokens, wiping $1.2M in assets and impacting 64,000 holders. 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