PeckShield, the blockchain security company, has cautioned the SFUND users not to use any SFUND bridges. According to the company, a drain bridge hack just happened on one of the SFUND bridges.
According to Meta Alchemist, the founder of Seedify, a Web 3 incubator and launchpad platform, has said that the investigation is ongoing. On his X account, he wrote, “We had audits on all these contracts, and have been running the same bridge contracts for over 3 years.”
Meta Alchemist has also said that they have contacted LayerZero and will provide updates as the investigation progresses. They will also fully cooperate with law enforcement and cybersecurity teams in tracking down the hacker. PeckShield, which has made the announcement seems to be working with Seedify in order to find a solution.
Seedify asks for more help as SFUND tank 50%
Meta Alchemist has urgently called out to Zachxbt, offering a generous reward for helping locate the hacker and resolve the situation. He said, “Zachxbt, if you could find us the hackers, and help us resolve this situation, we would love to give you a huge bounty for this.”
According to Meta Alchemist, the case is urgent because the hackers are moving the funds that they got from draining the liquidity pools, after minting from bridges.
Meanwhile, the exploit triggered significant price declines. SFUND has seen a 50.07% decline in the last 24 hours. Now the coin is trading at $0.2132. In addition, the market cap is down 50% now standing at $15.88 million. The decline reflects investor concerns about network security vulnerabilities.
SeedifyFund helps launch new blockchain gaming projects. The platform’s SFUND token is key here. Investors use SFUND for staking, helping fund projects, and participating in decisions. Users also use SFUND to fund new gaming projects listed on Seedify directly.
This hack follows another report made by PeckShield about suspicious activity at the Shibarium this month. As reported by Cryptopolitan, security sleuths found leaked validator keys on Shibaswap, which led to an estimated $2.8 million loss through Shib token withdrawals.
AI contributes to 2025 crypto hacks
The first half of 2025 saw one of the worst waves of crypto hacks to date, with more than $3.01 billion stolen. AI was a big part of it, making scams easier to run and letting even low-skill criminals get in on the action.
Seedify launched a ‘Seeds of Agentic Future’ AI Agent Hackathon earlier this year. The event was meant to invite innovators, developers, and creators worldwide to redefine the possibilities of AI agents within the decentralized ecosystem.
This raises the question: Are platforms digging their own graves? For instance, Coinbase CEO Brian Armstrong said AI now generates around 40 per cent of the exchange’s code, expected to surpass 50 per cent by October 2025.
Meanwhile, August has proved even more costly for the digital asset industry, with blockchain security firm PeckShieldAlert reporting that hackers stole $163 million across 16 major exploits. The figure marks a 15% increase from July’s $142 million, highlighting persistent security vulnerabilities within the sector.
According to the breakdown, the five largest incidents accounted for 99% of total losses, underscoring how a handful of high-profile breaches can distort monthly figures. A Bitcoin owner was the target of the worst attack, which caused them to lose $91.4 million in a single hack.
Exchanges and platforms were not spared either. In August, $54 million was stolen from BtcTurk, one of Turkey’s best places to trade. This comes after a $54 million breach in June 2024, taking the total amount of money it has lost to over $100 million.
Smaller but still damaging incidents have hit decentralized projects and financial firms. $7 million was taken from ODIN·FUN, $5 million was stolen from BetterBank.io, and $4.5 million was taken from CrediX Finance. Even though these leaks aren’t as big as the top two, they show how attackers can target many different types of systems.
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Source: https://www.cryptopolitan.com/peckshield-warns-traders-to-stay-clear-of-sfund-bridges/
