Multichain attack triggers Twitter phishing scheme for FTM distribution
Hackers continue their relentless attacks, displaying no signs of slowing down. Shortly after the Multichain hack, scammers started spreading a phishing link on Twitter.
The fraudulent distribution of Fantom (FTM) to users — falsely linked to the Multichain attack — is rapidly spreading on Twitter, attracting significant attention. The post has attracted a lot of attention from Twitter users.
In the tweet, the scammers stated:
“Due to the Multichain hack, Fantom Foundation is issuing an emergency FTM distribution to all users. All users who have interacted with the FTM chain are eligible to claim.”A phishing link was included in the tweet and shared with the affected users, leading them to believe it is associated with Fantom Foundation, the nonprofit organization responsible for the Fantom network.
Due to the Multichain hack, Fantom Foundation is issuing an emergency FTM distribution to all users.
All users who have interacted with the FTM chain are eligible to claim.
Receive Now ➡️ https://t.co/UUOBcycz8t#Fantom #Multichain #FTM #FTMUSDT#FantomHackathon $USDC,…
— Fantom Foundation (@FantomFNlD) July 7, 2023On July 6th, Multichain encountered an alarming situation when significant outflows were detected on its platform. In 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, with approximately $122 million worth of wBTC, USDC, USDT and other altcoins being stolen from its holdings.
Looks like another hack happened on Multichain. This DOES NOT affect users on @Binance or @Binance itself. We have swapped all assets out and closed deposits a while back. Regardless, we offer our assistance in helping with the situation.
Stay #SAFU. https://t.co/GGInbxFkic
— CZ Binance (@cz_binance) July 7, 2023In light of these events, users were strongly recommended to halt all activities on the Multichain protocol and revoke any contract approvals associated with Multichain. This precautionary measure was advised until investigations were concluded and a comprehensive explanation was provided.
Related: Circle, Tether freezes over $65M in assets transferred from Multichain
During the ongoing investigation, Changpeng 'CZ' Zhao, the CEO of Binance, utilized Twitter to inform his followers that the prominent digital asset service provider remained unharmed by the attack, reassuring them that all funds were secure. Additionally, he verified that Binance had already executed an asset swap and ceased accepting deposits from Multichain some time ago.
Instances of Twitter hacks like these are increasingly prevalent within the crypto industry. It is crucial for users to exercise caution and refrain from clicking on unfamiliar links.
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