In a massive phishing scam, $12 million disappeared from four victims within five days, exposing serious vulnerabilities in cryptocurrency security. The prevalent use of create2, a standard tool, enables malicious actors to exploit ephemeral addresses and bypass wallet defenses based on address blacklists. Furthermore, the cryptocurrency scam drained millions of dollars from Chainlink (LINK), SatoshiVM (SAVM), Optimism (OP), Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and SuperVerse (SUPER) tokens.
Details of a recent crypto scam
According to Scam Sniffer, a Web3 scam tracking platform, the ERC20 token has become a standardized weapon. It increases the impact of wallet drain attacks, using tokens, including LP tokens and NFTs.
Furthermore, the post highlighted that the calculated use of ERC20 declaration signatures has become the primary mode of operation for such cryptocurrency scams. This is a huge risk for users who undoubtedly fall prey to seemingly legitimate ERC721 signatures designed for gas-free token approval.
Additionally, screenshots shared by Scam Sniffer on
The latest update confirms that the victim lost a staggering $2.34 million worth of SUPER to a phishing cryptocurrency scam. This ultimately led to an immediate 20% drop in SUPER's market capitalization in just 45 minutes.
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Ripple CTO exposes new scam at OpenSea
David Schwartz, Ripple's chief technology officer, recently revealed a phishing scam targeting users of OpenSea, a prominent NFT marketplace. He noted that the scam involves fraudulent emails claiming to be from OpenSea and notifying users of bids on their NFTs.
These emails contain a malicious link, disguised as a SurveyMonkey survey, that redirects users to a fake OpenSea page meant to steal their credentials, Schwartz added. The Ripple CTO revelation highlights the growing sophistication of hackers in the digital asset space.
Furthermore, similar scams have been reported, indicating a growing trend of fraudulent activities in the cryptocurrency community. Moreover, this demonstrates the need for increased vigilance and security measures among users and industry platforms.
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