Loopring’s X Account Compromised in Phishing Scam
If you are a user of Loopring’s X account on the Ethereum (ETH) 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. Despite the fact that 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 digital currency platforms, with recent phishing scams stealing nearly $27 Million in digital currency in November 2023. Other platforms, such as Binance and Tether (USDT), have assisted authorities in recovering funds stolen via cryptocurrency scams.
Hot Take: Increased Vigilance Needed in Wake of Phishing Scams
As the cryptocurrency landscape continues to draw the attention of phishers and scammers, it’s more important than ever for users to remain vigilant against probable attacks. Phishing scams, like the recent compromise of Loopring’s X account, have resulted in whole lot of losses for digital currency participants. With platforms like Binance and Tether (USDT) working to recover stolen funds and warning from projects like JPEG’d to be on warning for hackers, the community must be proactive in protecting their assets and remaining notified about probable threats.
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.
