Massive Phishing Scam: $12 Million Stolen from Crypto Victims
A phishing scam has resulted in the disappearance of $12 million from four victims in just five days, exposing vulnerabilities in cryptocurrency security. The use of create2, a common tool, allows hackers to exploit temporary addresses and bypass wallet defenses that rely on address blacklists. This crypto scam targeted Chainlink (LINK), SatoshiVM (SAVM), Optimism (OP), Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and SuperVerse (SUPER) tokens.
Details of the Recent Crypto Scam
Scam Sniffer, a platform for tracking web3 scams, reveals that the ERC20 permit has become a weapon of choice for draining wallets. This tactic is particularly effective when combined with collateral tokens like LP tokens and NFTs.
The use of ERC20 permit signatures has become the primary method used in these crypto scams, posing a significant risk to users who unknowingly fall for seemingly legitimate ERC721 signatures designed for gasless token approval. The recent incident also affected collateral tokens such as aEthWETH, aEthUNI, and aEthLink.
One victim lost $2.34 million worth of SUPER to this phishing scam, causing a 20% drop in SUPER’s market cap within 45 minutes.
Ripple CTO Exposes New OpenSea Phishing Scam
Ripple’s Chief Technology Officer, David Schwartz, has uncovered a phishing scam targeting users of OpenSea, a popular NFT marketplace. The scam involves fraudulent emails claiming to be from OpenSea, notifying users of bids on their NFTs.
These emails contain a malicious link disguised as a SurveyMonkey survey, redirecting users to a fake OpenSea page aimed at stealing their credentials. This revelation highlights the increasing sophistication of hackers in the digital asset space.
Similar scams have been reported, indicating a growing trend of fraudulent activities in the crypto community. This emphasizes the need for heightened vigilance and security measures among users and industry platforms.
Hot Take: Crypto Scams Highlight Urgent Need for Enhanced Security Measures
The recent surge in phishing scams targeting cryptocurrency users underscores the urgent need for enhanced security measures within the industry. Hackers are exploiting vulnerabilities in wallet defenses and using sophisticated tactics to deceive unsuspecting victims.
To protect yourself, always be cautious of suspicious emails or links, especially those claiming to be from cryptocurrency platforms. Verify the authenticity of any communication before providing any personal information or credentials.
Cryptocurrency platforms must also prioritize security by implementing robust measures to detect and prevent scams. By staying vigilant and taking proactive steps, we can collectively combat the rising threat of crypto scams.
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