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Farcana (FAR) plunges 60% amid reports of hacked wallet

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Farcana (FAR) plunges 60% amid reports of hacked wallet

  crypto.news 13 h

Farcana (FAR) plunges 60% amid reports of hacked wallet

In a now-deleted X post, blockchain game Farcana said that one of its crypto wallets “has been compromised,” triggering a 60% plunge for FAR.

Farcana, a blockchain-based shooter game with tournaments, seems to have suffered a significant security breach, resulting in a sharp decline of over 60% in the value of its native token, FAR.

In a now-deleted X post, which can still be seen on the Turkish version of crypto.news, Farcana said that “one of the FAR wallets has been compromised,” adding that deposits to all centralized crypto exchanges have been “frozen until the issues solved.”

Farcana (FAR) plunges 60% amid reports of hacked wallet

Cached version of Farcana’s X statement | Source: crypto.news You might also like: Blockchain tech is the boxing industry’s game-changer | Opinion

As of press time, Farcana has not provided an explanation for the removal of the post. In a separate X post, the team advised users to avoid clicking on any links and reassured them that they are “working tirelessly to address the breach and ensure the safety of your assets.”

While the scale of the attack remains unclear, it has had an immediate impact on FAR’s price, which plummeted by 60% to $0.015, according to CoinGecko data.

Founded in 2022, Farcana raised $10 million in seed funding from Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle among others. Built on Unreal Engine 5, Farcana shares a similar graphical style with Overwatch, a team-based multiplayer first-person shooter game by Blizzard Entertainment. The game is understood to operate under a free-to-play model.

Read more: Web3 games must focus on quality over tech hype to succeed, claims Aphone CBO

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