Seedify suffers massive security breach: $120 million stolen from SFUND bridge
Hi everyone! This is Jon. While the world of GameFi and NFTs is exciting, security news can be quite shocking. Today, I'd like to explain in simple terms the highly anticipated Seedify security breach. Seedify is known as a Web3 incubator (a platform for nurturing new projects) that supports gaming and metaverse-related projects. Recently, a major hack occurred in the bridge (a mechanism for transferring assets between different blockchains) for the SFUND token. First, here's the lowdown: North Korean-affiliated hackers were involved around September 23, 2025, and approximately $1.2 million (approximately 1.2 million) was reportedly stolen. It sounds complicated, but it's actually simple. The bridge acts as a bridge between chains, and a vulnerability was discovered and exploited.
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Let's go through the details of the incident in chronological order and explain it based on the facts. Here's the interesting part: this hack reminds us of the importance of security in DeFi (decentralized finance).
The events that happened: A timeline of what happened
First, let's organize the sequence of events based on official announcements and reliable media information. On September 23, 2025, Seedify's official X (formerly Twitter) account made an announcement. According to the announcement, around the morning of that day (approximately 12:05 UTC time), a hacker group associated with North Korea (DPRK) obtained the private key (a secret key, like a password for operating tokens) of a Seedify developer. Using this, they illegally minted (created) a large number of SFUND tokens through a bridge contract (a smart contract, an automatically executed program) and leaked funds from multiple chains.
The specific damage amounted to approximately $1.2 million, with the impact primarily focused on BNB Chain. According to reports, over 64,000 wallets (digital wallets) were affected. For example, media outlets such as Crypto Briefing and Crypto Times reported on the details on September 23-24, 2025. While the Seedify team emphasized that the bridge had previously undergone an audit (security check), it appears that a bridge that had been in operation for more than three years was targeted. X's post also stated that Seedify itself was in contact with LayerZero (a cross-chain technology provider) and was investigating the matter.
- September 23, 2025: Hack occurs, Seedify officially announces on X.
- Same day: Token price plummeted (down 99% at one point), hitting a low of $0.0537.
- After September 24, 2025: Multiple news sites report the involvement of North Korean hackers.
As a side note, minting means "issuing new tokens." Hackers exploited this to create fake tokens and steal funds. When you come across this term, try to imagine how it can be exploited.
Impact and Seedify's response: What will happen to users?
The impact of this hack appears to have been significant. First, the price of the SFUND token temporarily plummeted by 99%, with some X posts reporting that the market as a whole lost approximately $40 million in value (however, this is a rough indication of the overall impact and is not an official figure). In particular, over 64,000 users on BNB Chain were affected, resulting in a loss of liquidity (the ability to easily buy and sell). Media outlets such as Crypto News reported the price crash and the involvement of a hacker group on September 24, 2025.
Seedify responded by immediately suspending bridge activity. They also launched a recovery plan called "Phoenix Raise." This fundraising initiative to support affected users was officially mentioned in a PlayToEarn article around September 25, 2025. The team stated that "this will support our users" and promised to strengthen security in the future. For example, a related project like HeadStarter's X post (October 3, 2025) also pointed out these infrastructure risks and offered support for Seedify.
- Price impact: After a 99% drop, the price partially recovered (to around $0.17).
- User Support: Funds will be redistributed through Phoenix Raise.
- Security measures: Discussions are underway to strengthen developer keys and recommend multi-signatures.
Here's the point: DeFi cross-chain bridges are convenient, but they come with risks. It's best to diversify your investments for peace of mind!
Lessons learned from this incident: Tips for GameFi users
Finally, looking back at this incident, I would like to summarize some useful points for anyone interested in GameFi and NFTs. First, when using tools like Bridge, make sure to check the official audit status. In the case of Seedify, the contract had been audited, but the cause was a leaked developer key. I see! It sounds complicated, but it's actually simple: it's like keeping your passwords secure.
Additionally, cyber attacks are a real threat in the world of Web3, as reportedly linked to North Korean hackers. Articles on 99Bitcoins and Finance Yahoo (around September 24, 2025) have pointed out vulnerabilities in DeFi security. Everyone should also get into the habit of splitting their wallets into multiple wallets and choosing a reliable platform. If you're unsure which company to choose first, try comparing them based on fees and ease of use. For a more detailed comparison,click here.
So, to sum up, Jon, while the Seedify incident is unfortunate, I think it's an inevitable learning opportunity as GameFi grows. We'll continue to follow the latest information so that everyone can enjoy it with peace of mind! If you have any questions, feel free to leave a comment. Let's explore the world of Web3 together!
This article has been compiled and fact-checked by the author based on the following publicly available information:
- North Korean Hackers Drain $1.2M from Seedify Bridge
- Seedify $SFUND bridge suffers $1.2M hack affecting 64k BNBchain users
- Seedify Hit by Major Security Breach: $1.2M Drained from SFUND Bridge
- Over 64K Wallets Hit as Seedify's $SFUND Bridge Exploited
- SFUND Crashes 99% as North Korean Hackers Drain $1.2M
- North Korean Hackers Drain $1.2M from Seedify Bridge
- Seedify Bridge Breach Leads to $1.2M Loss in Token Heist
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