Web3 incubator and Launchpad for Web3 projects, Seedify’s $SFUND token bridge was exploited in a significant hack that drained over $1.2 million from the BNB Chain, affecting over 64,000 users.
On September 23, Levent Cem Aydan, Founder of Seedify and known online as Meta Alchemist, confirmed the breach when attackers exploited a vulnerability in Seedify’s cross-chain bridge contract.
He explained that the team had quickly contacted multiple blockchains, exchanges, and LayerZero to track the stolen funds and identify the hacker group before they could move the assets off-chain.
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.
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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