What happened
On September 23, 2025, an attacker used a compromised developer key with owner rights over Seedify’s Avalanche LayerZero OFT bridge to mint unbacked SFUND, bridge it to other networks, and sell it into liquidity. Reported loss estimates range from $1.2 million to $1.7 million; the supplied $1.2 million is the lower contemporaneous estimate.
How it happened
- The attacker obtained a developer private key that had owner privileges on the Avalanche OFT bridge contract.
- Using those privileges, the attacker changed bridge configuration and minted about 8.79 million unbacked SFUND.
- The attacker bridged the unbacked tokens to other networks.
- The tokens were sold into liquidity pools, sharply reducing SFUND’s price.
- Seedify disabled bridges, blacklisted addresses, and sought exchange intervention.
Protocol details
Classification
Infrastructure / Bridge / Key Compromise
Protocol Type
Launchpad
Category
Bridge Hack
Implementation language
Solidity
Protocol links
Website
@seedifyfund
Security review history
- Zokyo View report
Evidence
- report @meta_alchemist incident report x.com
- report @meta_alchemist incident report x.com
- report @inca_digital incident report x.com
- analysis Website reference crypto.news
- analysis Website reference binance.com
- analysis DeFiLlama defillama.com
- analysis Seedify hack — September 2025 itokenly.com
Understand the attack patterns
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