Phishing Scam Targets Web3 Users, Stealing Over $580,000 in Stolen Cryptocurrency

Phishing Scam Targets Web3 Users, Stealing Over $580,000 in Stolen Cryptocurrency

Crypto News – Hackers have been orchestrating a series of phishing attacks by sending deceptive emails that promote token airdrops. These fraudulent emails are designed to appear as if they originate from well-known Web3 companies like Cointelegraph, WalletConnect, and Token Terminal.

Reports indicate that scammers have successfully pilfered more than $580,000 from unsuspecting victims in an ongoing hacking and phishing campaign. Cryptocurrency investigator ZachXBT brought attention to this issue by highlighting a multichain wallet address on his Telegram channel. This address has accumulated over $580,000 worth of stolen cryptocurrencies since the phishing emails started circulating.

The compromised wallet contains a diverse array of 280 different cryptocurrency tokens, with the majority (86%) of its holdings in Ether, totaling 227 ETH at the time of this report.

WalletConnect has also taken steps to caution its users on X (formerly Twitter) regarding the phishing emails that entice recipients to click on malicious airdrop links.

Even users of Web3 SocialFi and the antivirus application De.Fi have not been spared, as they have been targeted with emails promoting a launchpad release and featuring links to fraudulent airdrops. The attackers have even gone so far as to announce a counterfeit Token Terminal beta launch, complete with a button to claim a fictitious airdrop.

What makes these phishing attempts particularly dangerous is that the email addresses used by the attackers are virtually indistinguishable from the genuine email addresses of the legitimate companies involved.

Given these circumstances, it is crucial for investors and users to exercise extreme caution when encountering unexpected email announcements regarding airdrops.