Just wanted to share a serious heads-up regarding SFUND. PeckShield, a well-known blockchain security firm, has flagged SFUND’s cross-chain bridges due to a recent exploit. Apparently, one of their bridges was compromised, leading to a major security breach where funds were drained from the platform.
The Seedify team confirmed the issue and said the contracts were audited and have been running for years without problems. Still, that clearly wasn’t enough this time. They’re now working with other security experts and law enforcement to investigate the attack and possibly recover the stolen funds. They even reached out to LayerZero and other players to help trace what happened.
The market reacted instantly — SFUND’s price dropped by over 50% in a single day. That’s a huge hit and shows how shaken investor confidence is right now. The token fell to around $0.21, and the market cap dropped by half.
This situation highlights how vulnerable DeFi bridges still are, even when audits are done. We’ve seen too many of these bridge hacks in the past couple of years. They’re becoming a prime target because of the large amount of liquidity involved.
A few quick takeaways:
- Audits are helpful, but not foolproof
Bridges are still high-risk points in DeFi
Team communication is important, and at least Seedify seems to be doing that
For now, best to stay away from SFUND bridges until there’s more clarity
Stay safe and DYOR as always.