Massive Security Breach: Seedify’s $SFUND Bridge Exploit Impacts Over 64,000 Digital Wallets
Crypto infrastructure crumbles as cross-chain vulnerability exposes systemic risks.
BRIDGE COLLAPSE
The attack drained assets from 64,000+ wallets connected to Seedify's token bridge—proving once again that in crypto, your keys aren't always your coins when intermediaries get hacked.
SECURITY FALLOUT
Smart contract exploits continue plaguing DeFi bridges despite repeated warnings from auditors. The breach occurred during cross-chain transfers when attackers manipulated bridge validation mechanisms.
INDUSTRY PATTERN
This marks the seventh major bridge exploit this year alone—raising questions about whether the crypto industry prioritizes innovation over security fundamentals. Meanwhile, traditional finance quietly adds another zero to their cybersecurity budgets.
The hack and response
Seedify explained on X that the hackers gained access to a developer’s private keys, allowing them to mint tokens through the bridge contract. The tokens were then transferred between Ethereum, Arbitrum, Base, and BNB Chain, sucking liquidity pools in the process.
The hack has drawn the attention of Binance Co-Founder Changpeng “CZ” Zhao as Aydan has tagged him. In reply to the post, he confirmed the attack and said the hackers might be connected to North Korea’s DPRK. CZ also confirmed that centralized exchanges, including HTX, froze approximately $200,000 of the stolen assets, and major exchanges have blacklisted the attacker wallets.
As a response, Seedify suspended all bridge operations, withdrew compromised permissions, and is working with auditors, security specialists, and exchanges to secure the platform. Although Core contracts and user wallets are not impacted, the incident caused concerns regarding the security of cross-chain infrastructure in the decentralized finance (DeFi) space.
We are working non-stop with our partners and authorities, while finalizing an action plan that will be shared soon.
Ongoing updates can be found on our X and Telegram.
Seedify confirmed to The crypto Times that they are working closely with partners and authorities to manage the situation and finalize a recovery plan, which “will be shared soon.”
Founder’s message
On X, Meta Alchemist shared a personal message to the community, saying the project was built entirely from his own funds over 4.5 years, without venture capital. He described the hack as a devastating blow by DPRK-linked hackers, taking everything Seedify had built.
“We audited these contracts through the most known audit company so that we wouldn’t face this kind of issue, but they found a gap, and still did,” he wrote.
He emphasized, “We didn’t come this far to come this far, and there is so many people’s hard earned money in here. Tomorrow, we will announce the plan to rise like a phoenix from this!”
Following the hack, the price of SFUND dropped nearly 60% before recovering slightly. As per CoinMarketCap, the token is still down around 35%, trading at approximately $0.2771.
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