24th September 2025 – Seedify.fund, a Web3 gaming and metaverse launchpad, was hit by a major exploit on its bridge on September 23, 2025. Hackers targeted its cross-chain bridge, minting and dumping $1.2M worth of $SFUND. The exploit triggered a flash crash and 57–60% price drop, affecting 64,000 holders. Initial forensics suggest ties to a North Korean hacking group.
Key Takeaways
Seedify’s $SFUND token suffered a $1.2 million exploit on September 23–24, 2025, due to a cross-chain bridge vulnerability.
Attackers minted and dumped unauthorized tokens using stolen private keys, primarily affecting users on BNB Chain.
Over 64,000 token holders were impacted, and $SFUND crashed nearly 60% in 24 hours, briefly hitting a 99.99% flash low.
Seedify has paused bridges, blacklisted attacker wallets, and is coordinating with exchanges and ZachXBT for fund recovery.
What Happened
On September 23, around 12:05 UTC, attackers exploited a vulnerability in Seedify’s bridge contract (built using LayerZero’s OFT standard). Using stolen private keys, they altered contract permissions and minted illegitimate $SFUND tokens. These were bridged to BNB Chain and dumped into the market.
Key Events Timeline
Timeline of Events
Time (UTC)
Event
Key Details
~12:05 on Sep 23
Hack Execution
Bridge on Avalanche compromised; attackers minted and dumped fake $SFUND tokens using stolen private keys.
~13:00–15:00
Initial Disclosure
Founder Levent Cem Aydan confirmed exploit; tagged CZ and ZachXBT; $1.2M reported stolen on BNB Chain.
~16:00 on Sep 23
Official Statement
Team explained breach; warned against using $SFUND bridges; audit history shared.
Sep 23 Evening – Sep 24 Morning
Market Reaction
$SFUND price crashed to near zero before rebounding; trading paused; attacker addresses blacklisted.
Sep 24 Ongoing
Recovery Efforts
ZachXBT offered bounty; links to DPRK hackers found; price hovered between $0.18–$0.25.
Impact
Token Holders Affected: 64,000+ (mainly on BNB Chain)
Total Loss: ~$1.2M in $SFUND (confirmed)
Token Price:
Pre-hack: ~$0.43
Post-flash crash: ~$0.0537 (all-time low)
Sep 24 close: ~$0.18–$0.25
Market Cap Drop: From ~$27–30M to ~$13–15M
24h Trading Volume: Spiked to $12–25M amid panic and rebounds
Who Did It?
On-chain investigation by ZachXBT suggests the attacker wallets may be linked to a lesser-known North Korean group, “Contagious Interview.” While not the infamous Lazarus Group, the incident signals growing DPRK involvement in DeFi hacks.
Offered public transparency and urged holders to revoke token approvals
Community Sentiment
X (Twitter) exploded with reactions. Mentions of $SFUND rose over 1,500%.
Bearish: “This is brutal. Capitulation not over.”
Cautiously Bullish: “Horrible hack, but response was fast. Could recover.”
Trending Themes: Blame on bridge security, DPRK link, calls for off-bridge staking, and $SFUND shorting.
Biggest Crypto Hacks Of 2025
Key Takeaways
Cross-chain bridges remain a critical attack surface.
Audits are not a guarantee; private key compromise can bypass them.
Seedify’s fast containment likely prevented larger losses.
Long-term recovery depends on user trust and platform hardening.
For now, users are advised to avoid unofficial bridge tools, check approvals, and follow official Seedify updates only.
Frequently Asked Questions
What happened to Seedify and $SFUND?
Hackers exploited a vulnerability in Seedify’s cross-chain bridge, minting and dumping fake $SFUND tokens. The attack drained $1.2 million and caused a near 60% price crash.
How many users were affected?
Over 64,000 token holders were impacted, primarily on BNB Chain, as the attacker dumped newly minted tokens onto the market.
Was this due to a smart contract bug?
No. The issue was due to stolen private keys used to alter the bridge contract, not a flaw in the core $SFUND token smart contract.
Who is suspected to be behind the attack?
On-chain investigators linked the hack to “Contagious Interview,” a DPRK-affiliated group. This points to growing North Korean involvement in DeFi hacks.
What actions has Seedify taken?
Seedify paused all bridges, blacklisted attacker wallets, contacted exchanges, and began collaborating with investigators like ZachXBT to trace the stolen funds.
What is the current status of $SFUND?
The token is trading between $0.18–$0.25 as of September 24, 2025, down nearly 60% from pre-hack levels. Volume surged due to panic selling and short-term speculation.
Editorial Note
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
Sahil Thakur is the CEO and co-founder of Our Crypto Talk, a crypto media platform focused on altcoin news, on-chain analysis, and community-driven market signals. Active in the blockchain space since 2017, he has covered major market cycles including the 2021 bull run and the 2022 bear market. Sahil specializes in macro crypto trends, altcoin ecosystem analysis, and regulatory developments. His reporting has been cited across crypto communities for early coverage of emerging Layer 1 and DeFi narratives.
Sahil Thakur is the CEO and co-founder of Our Crypto Talk, a crypto media platform focused on altcoin news, on-chain analysis, and community-driven market signals. Active in the blockchain space since 2017, he has covered major market cycles including the 2021 bull run and the 2022 bear market. Sahil specializes in macro crypto trends, altcoin ecosystem analysis, and regulatory developments. His reporting has been cited across crypto communities for early coverage of emerging Layer 1 and DeFi narratives.
