A cybercriminal executed a phishing attack on Uniswap users. The users got led into believing that they would acquire free UNI tokens. Phishing is one of the most common kinds of attacks in the crypto environment.
Some individuals employing Uniswap V3 became victims of a phishing attack. The attacker has extracted over 7,500 ETH, worth about $8.1 million.
Many users have lost ETH due to a phishing attack employing the Uniswap V3 protocol. Numerous sources highlight that over 7,500 ETH got extracted during the crime. The event is not related to the Uniswap protocol; it got linked to the victims’ approved malicious operations.
Uniswap under Attack
Binance CEO Changpeng Zhao revealed on July 12 that the exchange noted a potential exploit on Uniswap V3, with the extracted funds getting laundered through Tornado Cash.
Security researcher Harry Denley from MetaMask also expressed that at least 73,399 addresses received a malicious token on July 11, with these users believing that they would get Uniswap items as rewards.
Uniswap creator Hayden Adams also expressed that the cybercrime included phishing and had no relationship with the protocol. He alerted users to be cautious about phishing attacks and take the necessary measures to avoid these malicious activities. The smart contract got already checked, and it appears to work without problems.
The victims received a malicious token (UniswapLP) and got directed to a webpage that said they could swap the item for UNI. The website would then detect personal information and extract funds from wallets. The losses got currently counted for $8.1 million, though those losses might be much higher as more news regarding the attack arrives.
This situation also makes users consider the need for more awareness about phishing attacks. This malicious procedure continues to be a popular method to target unsuspecting individuals, and many entities have been affected.
Phishing Attacks Plague NFT and DeFi Market
There are many methods by which cyber criminals steal crypto in the market, but phishing has become one of the most popular procedures.
American actor and comedian Seth Green became a victim of a phishing attack, losing at least four NFTs valued at more than $300,000. Crypto data aggregator websites have also been targets, including one of the most prominent networks like CoinGecko.
These entities have worked to educate parties about methods to keep themselves safe when it comes to these malicious activities. MetaMask filed a warning highlighting that Apple users were at risk of phishing attacks, and OpenSea’s CEO had to help its users after an attack on the NFT market.
The warning from MetaMask says that if users have enabled iCloud support for app data, this action will include the password-encrypted MetaMask vault. If the password is weak and some bad actor phishes the iCloud credentials, the funds could get extracted.
The warning also arrived with plenty of tips on how users can shield themselves from malicious activity. The safer procedure is for users to disable iCloud support by entering the settings and applying the required changes on the support menu.
By: Jenson Nuñez
