Bitcoin Forum

In a recent tweet, Binance CEO Changpeng CZ revealed that a sophisticated phishing campaign targeting liquidity providers (LPs) of the Uniswap v3 protocol has resulted in attackers making off with at least $4.7 million worth of Ether (ETH). However, the community is reporting the losses could be even greater.

The attack appears to have been meticulously planned, with the attackers sending malicious ERC-20 tokens to 73,399 addresses in order to steal their assets. MetaMask security researcher Harry Denley was one of the first to raise the alarm bells of the attack, telling his 13,000 Twitter followers on Monday that the scam was underway.

This is yet another reminder of the importance of being vigilant when it comes to cryptocurrency trading and managing your digital assets.

Will you mind sharing the link of the source for the content and always do this on your future post so that you will not encounter any problem especially plagiarism if ever you copy some part of the article or news content.

CZ is active on detecting frauds happening on DeFi and lately his findings is proven not true about Uniswap V3 is under attack. And now he find again another potential exploit to same exchange that he reported same abused? This is really interesting.

Here are some article links for your viewing pleasure:

https://cointelegraph.com/news/more-than-4-7m-stolen-in-uniswap-fake-token-phishing-attack
https://blockworks.co/uniswap-lp-hit-with-phishing-attack-totaling-3-5m-in-ether/
https://www.cnet.com/personal-finance/someone-lost-millions-trying-to-claim-2k-crypto-airdrop/

I noticed you plagarised in your post, I won't report you because I see your account is new, I just hope you won't be Banned, I will advise you to go true the forum rules and get yourself familiar with the forum rules. Plagiarism is a great offense. I will advise you to edit your post and add source link or you risk losing your account, quote the parts you copied and add source link to it.

DeFi still has a lot of growing pains ahead of it.  The amount of money being stolen from smart contracts is astounding.  Perhaps this is why Bitcoin has been so slow to move towards useful smart contracts.  It's hard to say if these hacks are the result of incompetence or shady behavior by founders who allow backdoors to steal funds from their own creations.  At least that's the way this scam was being done with Bitcoin back in the day.  In any event, the more of these hacks that occur, the more hardened the community.  Hopefully at some point people are educated and experienced enough to discover these types of loopholes before it's too late.

phishing attacks on liquidity providers? I wonder how exactly the phishers were able to determine who the liquidity providers were? Or is it just on random phishing with a fake website? It seems like something which most serious DeFI should be able to easily avoid and warn their Liquidity Providers against, ahead of time.

In fact, that so much money was stolen is testament to the absurd security ignorance which some DeFI platforms choose to not care about until its too late.

Hopefully we will see some responsibility and some new measures implemented to avoid something like this happening again.

Lets put up some source with that news.
https://cointelegraph.com/news/more-than-4-7m-stolen-in-uniswap-fake-token-phishing-attack

This isnt something new about phishing or something related to this.If there are no dumb people who would clicked out and easily get convinced about into those random coins in your wallet
then there's no one would really be victimized with these things.Bad guys would be always there and its normal for a market to have those bad guys that
why its really just right for us to be sensible on researching things up and think twice before you do act.

maybe you first should learn plagiarism
its about passing off someone else's hard work as your own for monetary gain, reputation
this is not a school or a work place.

someone clearly saying he noticed something on a binance tweet is not claiming the content as his own.
also this is a forum. a social platform. its not a scholars white paper portal where things get published for professional review. professional credit

chill out a bit.
the plagiarism rule is not about trying to ban accounts for simply not providing links. its about stopping idiots from claiming they made the bitcoin white paper or where a scammer is claiming to be a project manager and wants donations by stealing whitepapers and PR campaigns from other projects and saying they are his.

so calm down you sound to much like a conversation cop. threatening punishment for silly reasons

I'm not threatening him; I'm just trying to correct him so that he doesn't make the same mistake again. I noticed the account is new, so he may not be familiar with the forum rules. I believe that if he noticed something and wants to write about it, he should include a source link where he saw it so that anyone who wants to read more about it can easily visit the site. I could be wrong, but I believe that if he noticed it, he should have added a link of where he saw it.

Centralized exchange are most vulnerable to phishing attack and a lot of money have been stolen through hack, Binance have been on the center of those phishing attacks lately and hope clients' funds on those exchange are safu. But cone to be more realistic we all need to worry about the vulnerability of the NFT network protocol as they are the most attacked lately, a lot of development needs to be done to prevent future accuracy of phishing attacks on exchanges.

We keep seeing examples of what centralisation is about. Both in terms of exchanges and in terms of shitcoins. But people still don't understand what is going on. The quick buck will always justify all the risks. I don't know what else needs to happen for people to realise that the best bet is and always will be Bitcoin!

Again?

This happens at most times and these hackers or the "bad guys" will keep doing what they've been living off when they see something to exploit.

They always see new tactics and reinvention with how they trick innocent users that don't update much of what they do. Yeah, it's important to be updated at most times.

With cryptocurrency usage users need to be more cautious than using the traditional system. With time we could see more and more forms of scam approach through which hackers breach into the wallets and take control over the funds. Initially it started with phising websites and now we don't know in what way they're attacking. So, in a each and everytime we use cryptocurrency we need to be very careful handling it.

whatever the amount is, at least for now I don't see panic in the market, so everything is fine with the market, now the question is how long will this kind of thing stop? Lately there have only been disasters in this cryptocurrency market, not a week goes by without having some news of disgrace, I hope that at least the whole next week goes by without reading something bad


man I particularly stopped trading with altcoin and I've even stopped making sports bets using altcoins, I'm afraid to use altcoins

These same issues were faced with Bitcoin in the early days, there was quite a good number of hacking that resulted in a huge amount of Bitcoin being stolen way back. But now that is history as all the security gaps have been breezed and it has become almost impossible for hacking to happen. The same will be with the NFT network since the development is new a lot of such incidents of hack will be recorded, but with time they will learn how to protect their security protocol to avoid being hacked into.

The news is all over, from what I read, the token was sent to users, they're told to click on a link to claim the token, due to the excitement they obey the order and click so the malware can then get their details which maybe they submitted to claim the funds. These days, greed is the easiest means of taking people's funds on the ecosystem.

And they still haven't learnt their lessons though, as this is where the criminals are good at, exploiting people weaknesses like greed. And it's gonna be too late when they realized that the scammers have drained their wallet already.

And no matter what cycle we are, these criminals are going to strike so everyone just be careful on what links you gonna click or who you are going to trust in cryptoverse.

Seems like another lost for Crypto, very recently Omni NFT Platform was hacked and lost $1.4M in ETH and now another $4.7M, this could make ETH price down worse in this bearish. And if the price actually affected, there might be another delay for Ethereum 2.0.

It seems like the tactic of the scammer is pretty easy and the people who became a victim was too excited to get their so-called free coins which end up in an unforgettable bad moment in their life. Though their security is high, if the users don't aware of the phishing techniques like this, they are more likely prone to the attackers and they don't have any idea how quickly the hackers get their crypto assets as soon as they took the bait which is the malicious files or link sent by this impostor hacker.

I don't get how this action resulted in getting scammed! i mean, i see some shitty erc20 tokens in my eth wallet that i didn't requested or participate in, maybe they got dropped in your wallet randomly, so if you don't do anything with such shitty tokens does that mean you are vulnerable to hackers or you must have attempted to do something with the shitty tokens to trigger anything ???

It is a sad reality that the crypto space is probably the worst community in terms of shilling and scamming. It seems like there are whole companies that are specialized in scamming crypto investors or crypto newbies in special. You just need to post a question in any of the official telegram channels of a crypto project and withing a minutes you get like 5 messages of different people that want to help you. Of course those guys are scammers that want your private key and your money. Most of us are already aware of such activity and therefore that is not really a threat anymore but attacks like the one you mentioned still seems to have quite a success which is a shame.

Yeah.

They create a new style of scamming that no one has ever known but if you're going to analyze it, you'll have that clue and idea that they're scamming and they're not genuine.

It's for the sake of everyone that we need to take care of ourselves and our funds so that these bad actors won't at least get what they want to happen, and that is to victimize as much as they can.

While we're here, we also give warning and tip to the others and hopefully all of them listens.

It is nearly impossible to control such incidents but awareness, knowledge and alertness can really save us from such happenings.

In addition to this important awareness of phishing websites, it is important to take note of the growing fake tokens being distributed of which if you are not careful, you will think it was an airdrop you performed sometime and you may want to interact with the token/token website. Scammers are making tokens to defraud people of their hard earned money (https://research.checkpoint.com/2022/scammers-are-creating-new-fraudulent-crypto-tokens-and-misconfiguring-smart-contracts-to-steal-funds/). Let us be aware of these developments in the crypto space.