Public Chain Flow experienced a terrifying moment last night. In just a few hours, the token price plummeted by over 30%, with a market cap evaporating approximately $100 million, triggering market panic. The Flow Foundation subsequently confirmed that a major cybersecurity threat had indeed occurred.

According to the latest investigation results released by the Foundation, on December 27th, an attacker exploited a vulnerability in the Flow execution layer and successfully transferred about $3.9 million worth of assets off-chain just before validator coordination shutdown. Although the amount is not insignificant, there is a key detail worth noting — this attack did not affect users' actual account balances, and all user deposits remain intact and unharmed.

Currently, the Foundation's security team has traced the flow of funds. The $3.9 million outflow was mainly transferred through cross-chain bridges such as Celer, Debridge, Relay, and Stargate. The attacker’s wallet has been identified and marked. The Foundation is actively tracking subsequent money laundering activities via Thorchain and Chainflip, while also initiating fund freezes and system patches.

This incident serves as a reminder that even well-established public chains, which have endured market upheavals, cannot overlook security risks during the transition to DeFi. However, based on the Foundation’s quick response and transparent communication, there is at least some credibility in their emergency handling.