Hackers, showing no signs of slowing down, have launched a phishing scheme on Twitter following the recent Multichain hack. By spreading a fraudulent distribution of Fantom (FTM) linked to the Multichain attack, they have managed to attract significant attention. The phishing link was included in a tweet and shared with the affected users, tricking them into believing it is associated with the Fantom Foundation.
On July 6th, Multichain faced an alarming situation when it detected significant outflows on its platform. As a response, Multichain suspended operations to investigate the issue. By the end of the day, approximately $125 million worth of Multichain assets had been illicitly transferred to various wallets. The most targeted asset was the Fantom bridge, where about $122 million worth of wBTC, USDC, USDT, and other altcoins were stolen.
In light of these events, users were strongly advised to cease all activities on the Multichain protocol and revoke any contract approvals associated with it until the investigation concluded and a comprehensive explanation was provided. CEO of Binance, Changpeng ‘CZ’ Zhao, assured his followers via Twitter that Binance remained unharmed by the attack and that all funds were secure. Binance had already executed an asset swap and stopped accepting deposits from Multichain earlier.
Instances of Twitter hacks like this are increasingly prevalent within the crypto industry. Users must exercise caution and avoid clicking on unfamiliar links. The article emphasizes the need for cybersecurity measures and vigilance among users to protect themselves from such phishing schemes.
Phishing attacks targeting cryptocurrency users through social media platforms pose a serious threat to individuals’ funds and the overall integrity of the crypto ecosystem. It is crucial for users to stay informed, follow security best practices, and report any suspicious activities to prevent falling victim to such scams.