A Phishing Scam Steals $214,000 in Cryptocurrency
A phishing scam called FrenTechPro, masquerading as the friend.tech tool, has successfully stolen approximately $214,000 in cryptocurrency from multiple blockchains. The scam took advantage of a vulnerability in cross-chain bridges, which connect different blockchains and allow for seamless token transfers.
How the Scam Operated
The hackers behind FrenTechPro targeted various blockchain platforms, including Ethereum, BNB Chain, Base, Polygon, Arbitrum, OP Mainnet, and Avalanche. This indicates their expertise in navigating different networks.
PeckShield, a security monitoring service, warned users about the phishing activities of FrenTechPro. They specifically cautioned against trusting the ‘friendtech X’ account used by the scammers to deceive victims. The fraudulent account promised a cross-chain bridge service that required users to activate it with a simple click.
Yu Xian, the founder of SlowMist, also issued an alert about FrenTechPro. Xian identified it as a phishing scheme that tricks users into clicking on an “ACTIVATE NOW” button. Once clicked, the system persistently attempts to gain access to the user’s wallet assets.
The Growing Threat of Crypto Phishing
Phishing scams like FrenTechPro are becoming an increasing concern in the crypto space. These scams involve posing as legitimate platforms or services and manipulating users into unintentionally granting access or making direct fund transfers.
AegisWeb3, a cybersecurity firm, also warned against FrenTechPro’s tactics. They emphasized how the scam tricks users into authorizing wallet transfers by signing transactions. The crypto community is facing escalating threats from intensified phishing attacks.
Hot Take: Protecting Yourself from Phishing Scams
Phishing scams continue to pose a significant risk in the crypto world. To protect yourself, it’s crucial to remain vigilant and skeptical of any suspicious requests or offers. Never click on unfamiliar links or provide personal information without verifying the source.
Always double-check the authenticity of any platform or service before interacting with it. Be cautious of messages or emails that pressure you to take immediate action or share sensitive data. By staying informed and adopting secure practices, you can safeguard your cryptocurrency assets from phishing scams.
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