Farcana’s FAR wallet was hacked, causing FAR price to drop 56%

FAR

126.96%

WenJun

2024/06/24 17:18

The latest tweet from blockchain gaming studio Farcana on X states that one of its FAR wallets has been leaked.
All CEX deposits are currently frozen until the issue is resolved.
Farcana is working with external networks to investigate affected victims in the process.

🚨 Stay Vigilant 🚨

There is only one official account @FarcanaOfficial.

Please do not simply click any links. Our team is working tirelessly to address the breach and ensure the safety of your assets.

We will provide updates as soon as possible. Thank you.
— Farcana (@FarcanaOfficial) June 24, 2024

As of the time of writing, Farcana’s native token FARUSDT fell from 0.0372 to 0.0160 within a few hours after the FAR wallet was hacked, a drop of 56%.

What is Farcana

Farcana is a shooting game with a battle royale mode backed and invested by Animoca Brands. Players seek to start a new life on a terraformed Mars and earn Infilium, the most powerful resource in the galaxy, to create disruptive technologies and Mine Bitcoin with extra speed.
Farcana is powered by a patented deflationary Play-to-Hash economic model based on real Bitcoin mining power.

Farcana Financing Status

Farcana raised $10 million in seed funding.
This financing was led by Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle, and Rarestone Capital, MMPro Trust, Unpopular Ventures, Kapo Capital, Emchain, Hasu Capital, and Dravus Investment also participated in this round of financing.

Farcana team introduction

Ilman Shazhaev is the founder and CEO of Farcana and the executive chairman of OneBoost.
Past Experience:

From 2011 to 2012, Ilman worked as an engineer and researcher at Grozny State Oil Technical University.
From 2013 to 2014, he served as the assistant to the rector at Grozny State Oil Technical University.
In 2015, Ilman graduated from Moscow State University of Civil Engineering with a bachelor's degree in Informatics and Computing.
In 2014, Ilman received the Russian Presidential Scholarship; in 2015, he was awarded the Chinese Government Scholarship; and in 2017, he received the Shanghai Government Scholarship.
From 2015 to 2017, he studied Mechanical Engineering at Harbin Institute of Technology in China. Since 2017, Ilman has been a PhD candidate in Engineering Management at Shanghai Jiao Tong University in China.
In 2019, he co-founded Acoustery.
In 2022, he founded MetaDeSci, a decentralized scientific metaverse platform connecting scientists, gamers, and investors.
In 2022, he also created the Farcana Gaming Metaverse and Farcana Labs.

More news about farcana

Jun 24, 2024 8:10 pm
Farcana clarifies: Third-party market makers were attacked, official wallets and FAR smart contracts were not affected
Farcana, a blockchain game studio, released a security incident update on X: "For the past three weeks, Farcana has been working with major market makers to gradually increase liquidity. This morning, we learned that one of the market makers may have been attacked, which resulted in a loan we provided to it being sold in the market. We quickly contacted exchanges and other market makers to restrict related activities. As of press time, on-chain indicators show that the market value of the balance of tokens still on sale is between $60,000 and $80,000. We are working with the right counterparties to resolve this issue as it has already caused adverse reactions in the market. It is hereby clarified that Farcana has not been hacked, our wallets have not been stolen, and the FAR smart contract has not been attacked in any way. The hacker's actions against third parties have led to the spread of false information and amplified the market impact. We will continue to provide further information updates in the future." According to CoinGecko data, FAR fell 47% in 24 hours, temporarily reporting $0.01972.
Jun 24, 2024 8:00 pm
Security breach reports send Farcana (FAR) crushing 60%
Farcana (FAR) token has plunged 60% due to a reported wallet hack. Farcana has responded to the breach reports and urged caution, reassured users of ongoing security efforts. Founded in 2022, Farcana got substantial backing from investors like Animoca Brands and Polygon Ventures. The popular blockchain-based shooter game Farcana saw its native token, FAR, plummet […] source: https://coinjournal.net/news/security-breach-reports-send-farcana-far-crushing-60/
Jun 24, 2024 10:45 am
Farcana: A FAR wallet was attacked, the team is handling it and ensuring the safety of user assets
Farcana, a blockchain game studio, posted on X that one of its FAR wallets was hacked, and the team is currently working to resolve the vulnerability and ensure the safety of user assets. In addition, all deposits sent to CEX will be frozen until the problem is resolved. Until further notice, users are asked to avoid any transactions involving FAR.
Jun 24, 2024 10:33 am
Farcana's FAR Wallet Suffers Hacker Attack, Team Works to Secure User Assets
According to Foresight News, Farcana, a blockchain gaming studio, has reported a hacker attack on one of its FAR wallets. The team is currently working to fix the vulnerability and ensure the safety of user assets. In addition, all deposits in CEX will be frozen until the issue is resolved. Users are advised to avoid any transactions involving FAR assets until further notice. Previously, Foresight News reported that Farcana had completed a seed round of financing in December 2023, raising $10 million. Notable investors included Animoca Brands among others.
May 03, 2024 7:38 am
Only Two Days Left to Earn $FAR Tokens in Farcana Playtest
Farcana, a multiplayer arena hero shooter with a Web3 economy, started its playtest event called Gateway: Showdown on 30th April. This playtest is currently open to all players, which means you can participate simply by signing-up on its official website, and installing the game. Players participating in this event can earn $FAR tokens as rewards […] source: https://www.cryptopolitan.com/two-days-left-to-earn-far-tokens-in-playtest/
Dec 15, 2023 9:15 am
Chain gaming studio Farcana completes US$10 million in seed round financing, with participation from Animoca Brands and others
UAE chain gaming studio Farcana has completed a US$10 million seed round of financing, with participation from Animoca Brands, Polygon Ventures, Fenbushi Capital, Rarestone Capital, MMPro Trust, Unpopular Ventures, Kapo Capital, Emchain, Hasu Capital, Dravus Investment and others. Farcana will use the funding to continue developing its third-person multiplayer shooter. (Decrypt)
Dec 15, 2023 2:42 am
Farcana Raises $10 Million in Seed Funding for Blockchain-Based Shooter Game
According to Decrypt, Farcana has raised $10 million in seed funding from investors including Animoca Brands, Polygon Ventures, Fenbushi Capital, Merit Circle, and others. The funding will be used to further develop Farcana's third-person multiplayer shooter game. Farcana shares similarities with games like Blizzard's Overwatch and Riot Games' Valorant, and is set in a near-future world where humanity has left Earth for Mars, discovering a superpower-granting substance called Axelar. The Farcana team, which includes G2 Esports founder and former CEO Carlos 'Ocelote' Rodriguez as an advisor, is based in the MENA region and has previously worked with Dubai's Economy and Tourism department. Animoca Brands co-founder and chairman Yat Siu said their strategic investment in Farcana is part of their vision to drive Web3 development in the MENA region. The game will utilize Ethereum scaling network Polygon and plans to offer blockchain elements like a play-to-earn tournament feature that rewards the top 10% of its players with Bitcoin. Farcana will operate under a free-to-play model with an optional battle pass, NFTs, and crafting features, using the FAR token for all transactions.
Dec 15, 2023 2:36 am
Farcana Raises $10 Million for NFT Esports Shooter That Pays Out Bitcoin
Exclusive: The sci-fi, team-based hero shooter Farcana is still in early development. Now, it has a fresh round of capital to tap into. source: https://decrypt.co/209817/farcana-raiases-10-million-nft-esports-shooter-pays-out-bitcoin
Nov 27, 2023 7:47 pm
UAE-Based Farcana Studio Receives Strategic Investment from Animoca Brands
According to Foresight News, Farcana, a blockchain gaming studio based in the United Arab Emirates, has received strategic investment from Animoca Brands. The specific amount of the investment has not been disclosed, but most of the new funds will be used to enhance Farcana's beta release and development within the Bitcoin ecosystem. The project plans to launch tokens and a full game early next year. Animoca Brands stated that its strategic investment in Farcana is part of its vision to drive the development of Web3 in the Middle East and North Africa. Built using Unreal Engine 5, Farcana is a team-based third-person shooter game set in an arena. Currently, Farcana is conducting its second public game test, which will take place in November and December 2023.