Uniswap Users Fall Victim to a USD 8M NFT Phishing Attack, Binance Pulls False Alarm

Source: iStock/Hailshadow


Users of Uniswap (UNI), the most important decentralized change (DEX) working on the Ethereum (ETH) blockchain, have fallen sufferer to a classy phishing assault, reportedly shedding over USD 8.1m price of belongings. Meanwhile, Binance CEO Changpeng Zhao (CZ) falsely alarmed concerning the incident, claiming that the protocol itself was exploited. 

The phishing assault tried to rob customers of their belongings beneath the misunderstanding of a UNI airdrop, in keeping with Metamask safety analyst Harry Denley. He claimed that at the least 73,399 addresses have been despatched a malicious token to focus on their belongings. 

The hacker is alleged to have executed the phishing marketing campaign on a serious Uniswap V3 liquidity pool (LP). They seemingly despatched a malicious token to addresses performing beneath the false pretense of a UNI airdrop in an try to get customers to signal the transaction. 

“First, the malicious contract pollutes the occasion information in order that block explorers index the “From” because the respectable “Uniswap V3: Positions NFT” contract,” Denley detailed, noting that when a person sees that “Uniswap V3: Positions NFT” despatched them a token, they’d get curious and verify the token.

Blog New Ap Pricing e1637002475474

The token title directs customers to a website that imitates the true Uniswap branding. The web site then executes a perform that tries to steal the customers’ belongings. 

According to on-chain data of the tackle recognized because the attacker, a complete of ETH 7,500 (USD 8.1m) has been laundered via crypto mixing service Tornado Cash. The tackle at present holds simply ETH 70. 

Kryll - Automated crypto trading made simple

Binance CEO CZ initially falsely alarmed concerning the incident, saying that the protocol itself was exploited. “Our menace intel detected a possible exploit on Uniswap V3 on the ETH blockchain,” he stated in a tweet. 

However, CZ later confirmed that the protocol is secure and the assault was a phishing try. 

“A phishing attack that resulted in some liquidity pool NFTs being taken from individuals who approved malicious transactions,” Uniswap founder Hayden Adams said. “Totally separate from the protocol.”

Meanwhile, some within the crypto neighborhood slammed CZ for tweeting concerning the situation with out verifying it first, claiming that with an viewers of 6.6m followers on Twitter he must be extra cautious about spreading panic. 

“Stupid as f*ck to tweet this out as an alternative of asking the staff privately even when it *was* an exploit,” stated FatMan, a pseudonymous Terra neighborhood researcher. “The incontrovertible fact that it has nothing to do with the contract (and the Binance staff did not trouble checking this) makes it a lot worse.”

At 06:42 UTC, UNI is the second-worst performer among the many prime 100 cryptoassets by market capitalization in the present day. It dropped 7% in a day, nearing USD 5.5. It’s nonetheless up nearly 6% in per week. 
Learn extra: 
– NFT Giant OpenSea Shares 5 Safety Recommendations as Users’ Emails Leaked
– Crypto Exchange That Hosted a Scammer’s Wallet Is ‘Not Liable’ For Victim’s Losses, Court Rules

– NFT Self Defense: Staying Safe in Web3
– Crypto Sector World’s third Industry in Phishing Attacks Growth – Report

Source link

Related Articles

Leave a Reply

Back to top button