North Korean Hackers Drain $1.2M from Seedify Bridge

Seedify’s bridge has been hit by yet another major crypto exploit, and this time, it’s being tied to hackers from North Korea. Around $1.2 million in funds were drained after attackers found a way to mint fake SFUND tokens. Once they had those tokens in the system, they moved quickly, draining liquidity pools across different chains and swapping the fake assets for real ones. Most of the stolen value ended up on BNB Chain, making it tougher to follow.

How the Attack Unfolded

It started with a compromised private key. That was all the hackers needed to create unauthorized SFUND tokens, which they then pushed into liquidity pools on Ethereum, Arbitrum, and Base. After extracting real value, they bridged their gains to the BNB Chain.

I birthed Seedify from the pains of my past, with the last of my funds going into dex liquidity and airdrop fees.

We didn’t raise vc money, didn’t ask for a dime from anyone, and gifted more than thirty thousand people our initial tokens.

DPRK/Lazarus decided to take everything… pic.twitter.com/ExJf2glVqN

— Meta Alchemist (@meta_alchemist) September 23, 2025

By spreading the attack across multiple networks and using different chains to clean the funds, they made it harder for anyone to track them down or stop the damage in real time.

The Impact on SFUND

The token didn’t stand a chance. SFUND’s value dropped by roughly 35% once word of the attack spread. Holders rushed to pull their money out, and confidence took a major hit. With fewer people willing to buy or hold the token, liquidity dried up almost instantly. The panic wasn’t just about the lost money, but about what the exploit meant for the future of the project and its overall security.

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Why Seedify Was a Target

Seedify operates a cross-chain bridge that connects its ecosystem to several blockchains. That makes it useful for users, but also a tempting target for attackers. The more networks you support, the more complex the system becomes, and with that complexity comes more chances for something to go wrong. In this case, it looks like poor key management was all it took. The bridge handled high volumes of traffic across multiple chains, so any weak link in that system was going to be a big one.

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Price

Market Cap

BNB

$151.65B

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What This Says About DeFi Risks

This is a reminder that even established crypto projects are vulnerable when it comes to bridges and smart contracts. Cross-chain tech is still maturing, and security gaps are everywhere. Once an attacker finds one, they don’t waste time. Projects may be decentralized, but they still rely on critical points of control. If something like a private key isn’t protected, the entire system can unravel in minutes.

And when state-backed hackers get involved, the stakes are even higher. Groups tied to North Korea have been behind multiple crypto attacks in recent years, and this latest one fits the same pattern: fast, coordinated, and hard to trace.

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What Comes Next for Seedify

Now the team has to clean up the mess. That means audits, transparency, and explaining what went wrong. They’ll probably need to offer recovery plans or compensation, especially if they want to win back trust. At the same time, they’ll need to strengthen everything behind the scenes, from how keys are stored to how permissions are managed across chains.

People who lost money or are still holding SFUND will want answers. And they’ll want to see real progress before trusting the project again.

What Observers Should Watch

A few things matter here. First, how open Seedify is about the breach and what actions they take to prevent another. Second, whether anything is done to trace the stolen funds. Third, this would push other crypto projects to upgrade their own bridge security before something similar happens to them.

This isn’t just about one project getting hit. It’s about whether crypto can build safer systems before more money is lost and more bad actors take advantage.

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