Ethereum L2 Loopring Account Hacked by Phishers: A Detailed Report

Ethereum L2 Loopring Account Hacked by Phishers: A Detailed Report

Loopring’s X Account Compromised in Phishing Scam

If you are a user of Loopring’s X account on the Ethereum layer-2 network, you should be aware that the account was compromised on Nov. 20 by phishing scammers. The scammers published multiple tweets containing harmful links to a fake LRC airdrop, the project’s native token. Even though blockchain security firm CertiK identified the links and their connection to other phishing campaigns, the exploit continued all day and the Loopring team had not yet regained control of the account. It’s uncertain if any users suffered losses, but at the time of the hijacking, Loopring had over $98 million in total value locked. The incident is part of a broader wave of cyber attacks targeting cryptocurrency platforms, with recent phishing scams stealing nearly $27 million in cryptocurrency in November 2023. Other platforms, such as Binance and Tether, have assisted authorities in recovering funds stolen via crypto scams.

Hot Take: Increased Vigilance Needed in Wake of Phishing Scams

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

As the crypto landscape continues to draw the attention of phishers and scammers, it’s more important than ever for users to remain vigilant against potential attacks. Phishing scams, like the recent compromise of Loopring’s X account, have resulted in significant losses for cryptocurrency participants. With platforms like Binance and Tether working to recover stolen funds and warning from projects like JPEG’d to be on alert for hackers, the community must be proactive in protecting their assets and staying informed about potential threats.

Ethereum L2 Loopring Account Hacked by Phishers: A Detailed Report
Author – Contributor at | Website

Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension. An unwavering beacon for both seasoned adventurers and neophytes in the crypto cosmos, Noah’s insights forge a compass for informed decision-making amidst the tides of ever-evolving cryptocurrencies. With an artist’s eye for precision, he crafts a distinctive narrative, enriching the vibrant tableau of the crypto landscape.