The Fantom ecosystem's GNUS.AI has encountered a security breach that resulted in a loss of $1.27 million.

The Layer 1 blockchain known as Fantom includes various projects, including GNUS.AI. GNUS.AI The project GNUS on Fantom encountered a security breach that cost approximately $1.27 million, as reported by the security firm Beosin.

Following the breach, the hacker attempted to hide the stolen funds by mixing them and transferring them to a cryptocurrency exchange. Beosin's Know Your Transactions (KYT) tool is actively tracking the address linked to this hacker. OKX A security breach on the Fantom network resulted in a loss of roughly $1.27 million.

Additionally, the company has announced plans to carry out a snapshot at the block right before the exploit took place and has warned users against purchasing GNUS tokens following the incident, as a new token launch is on the horizon. Users affected by the situation can request reimbursements through a specific process on the GNUS.ai website. Ethereum and Polygon Due to a recent exploitation, a hacker successfully created counterfeit tokens on the Fantom network, transferred them via the Axelar Bridge to Ethereum and Polygon, and sold them into existing liquidity reserves.

We will be conducting a snapshot prior to the block where the exploit happened.

The platform aims to democratize AI and machine learning operations by allowing individuals to lend their computing power for rewards, creating a unified ecosystem where users can seamlessly integrate this system into different applications and games. The public launch of this project took place in March 2024.

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