A massive phishing scam wiped out $12 million from four victims within five days, exposing a major flaw in the security of cryptocurrencies. The proliferation of the standard tool create2 allows malicious attackers to exploit temporary addresses and bypass wallet defenses based on address blacklists. Additionally, this cryptocurrency scam resulted in the loss of millions worth of Chainlink (LINK), SatoshiVM (SAVM), Optimism (OP), Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and SuperVerse (SUPER) tokens. has leaked out.
Details on recent cryptocurrency scams
According to Scam Sniffer, a Web3 fraud tracking platform, ERC20 permissions have become a standardized weapon. Collateral tokens such as LP tokens and NFTs are used to strengthen the impact of attacks that deplete wallets.
Additionally, this post highlighted that the calculated use of ERC20 authorization signatures has become the primary mode of operation for such cryptocurrency scams. This is a significant risk for users who fall prey to his seemingly legitimate ERC721 signatures designed for gasless token authorization.
Additionally, snapshots shared by Scam Sniffer on X reveal that apart from the digital currencies mentioned above, collateral tokens such as aEthWETH, aEthUNI, and aEthLink were also affected. Additionally, the latest incident further highlights the seriousness of the threat.
The latest update highlights that victims lost $2.34 million worth of SUPER to a phishing cryptocurrency scam. This ultimately caused his SUPER market cap to plummet by 20% within just 45 minutes.
Also read: Bitcoin price catches up with stock prices, rises 5%, with $43,000 in sight
Ripple CTO exposes new OpenSea scam
Ripple's chief technology officer David Schwartz recently revealed a phishing scam targeting users of OpenSea, a popular NFT marketplace. He noted that the scam includes a fraudulent email claiming to be from OpenSea and informing users of his NFT bids.
Schwartz added that these emails contain malicious links that purport to be SurveyMonkey surveys and redirect users to fake OpenSea pages designed to steal their credentials. The Ripple CTO revelations highlight the growing sophistication of hackers in the digital asset space.
Additionally, similar scams have been reported, indicating an increasing trend of fraudulent activity in the crypto community. Furthermore, this indicates the need for increased vigilance and security measures among users and industry platforms.
Also read: 7 Reasons to Buy Solana (SOL) This Year
