180 Million BEAM Tokens Stolen
In a recent post, blockchain analytics platform Lookonchain revealed a phishing attack that resulted in the theft of over 180 million BEAM tokens. The victim, identified as Kirill Marinov, lost tokens worth approximately $5.14 million to an account labeled as ‘Fake_Phishing291038’. The scammer quickly sold the stolen tokens for ETH, causing the price of BEAM to drop by around 7%.
Phishing Scams in the Crypto World
Phishing scams are a common tactic used by scammers in the crypto industry. They exploit inexperienced investors and try to trick them into revealing their private keys or login information. It is important for all crypto investors to stay alert and take necessary measures to keep their assets safe.
BEAM Price Reacts to the Heist
The BEAM token serves as the native cryptocurrency for the Beam network, a gaming network powered by the Merit Circle DAO. After the theft and subsequent exchange to ETH, the price of BEAM dropped from $0.030 to the $0.028 range. Currently, it is trading at $0.027 with a 2.4% drop in the last hour and a 9.3% decrease from its previous trading price.
Hot Take: BEAM Token Heist Raises Concerns about Crypto Security
The recent theft of 180 million BEAM tokens highlights the ongoing security concerns in the crypto industry. Phishing attacks continue to be a significant threat, targeting both inexperienced and experienced traders alike. It is crucial for crypto investors to remain vigilant and take proactive measures to protect their assets.
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