In a new development, cybersecurity firm PeckShield Inc. Issuing an alert regarding a phishing account that is posting fake information about a fake Uniswap exploit.
There have been many hacks and attacks in the cryptocurrency industry in recent years. These intrusions and other fraudulent actions are just a few examples of security issues that have damaged the reputation of the industry and prevented public acceptance.
Phishing targeting Uniswap users
The phishing account pretends to be Pocket Universe, claiming that the Permits2 contract issuance makes Uniswap users’ funds insecure. The fake account then asks individuals to revoke their existing approvals on a site called Revoke Cash.
PeckShield alerted all Uniswap users via a Twitter platform about phishing attacking, warning everyone to be vigilant and not be a victim. The company confirmed that the exploiter’s tweets were intended to make people click on the phishing link and lose their token.
And she stressed that users should always verify the legitimacy of accounts and sources of information before acting to avoid falling for such scams.
Notably, the legitimate Pocket Universe account, PocketUniverseZ, features an extension to protect users from fraud.
Other cryptocurrency scams and exploits
The widespread adoption of cryptocurrencies has increased the prevalence of scams of all kinds. Cybercriminals have developed a variety of tactics, and the anonymity of blockchain technology allows many of them to get away with such scams.
according to DeFi Security ReportAlmost half of the attacks and losses in the first quarter of the first quarter occurred in the first weeks of March. Euler financing Bonq DAO exploits were the loss leader for the quarter, with losses of $196 million and $120 million, respectively.
CoinDeal lost $45 million due to an exploitThe Monkey Drainer Phishing criminals came in fourth with $16.5 million lost due to bad actors.
Of the $452 million in stolen funds, $130 million was eventually recovered in the first quarter of 2023, which is a recovery rate of 28.7%. About $520 million of the $1.3 billion stolen were recovered in the first quarter of 2022, representing a recovery rate of 40%.
Six of the 49 theft incidents in the report resulted in losses of more than $200 million, with Euler Finance accounting for most of the total losses. Smart contract exploits were the most prevalent attack, accounted for 17 times.
defect in BonqDAO smart contract It resulted in a loss of $120 million for both BonqDAO and AllianceBlock on February 2nd. Platypus Finance, an automated market maker (AMM) that provides stable swap capabilities, was the target of an $8.5 million flash loan attack.
Featured image from Pixabay and chart from Tradingview
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