Fantom (FTM), the native token on the eponymous blockchain, fell sharply after one of its largest DeFi exchanges (DEX) was hit with a hack.
FTM slumped over 15% in the past 24 hours, and is now trading at nine-month lows of $0.322552. Saturday’s losses have now seen the token more than halve in value this week, in the wake of a crippling crypto crash.
SpiritSwap, one of Fantom’s biggest DeFi exchanges, said its platform was compromised. The platform said about $18,000 was stolen, although it had to cease operations to prevent further theft.
SpiritSwap is still not processing transactions, as of press time.
Fourth Fantom hack in three months
While the scale of the attack on SpiritSwap appears to be limited, it is Fantom’s fourth major hack in the past three months. In April, Deus Finance was attacked in flash loan exploit that cost the platform over $13 million.
