A #cryptocurreny trader suffered a devastating loss of over $20,000 after falling victim to a sophisticated phishing attack while attempting to access the ChangeNOW exchange through Google Chrome, according to Foresight News.
The attacker exploited Punycode technology, a method that allows scammers to create deceptive domain names that appear visually similar to legitimate ones. In this case, the fake website used a modified version of the letter "e" in the domain name, successfully mimicking the official ChangeNOW URL. Trusting the authenticity of the site, the user proceeded with their transaction — only to later discover that their assets had been stolen.
This incident serves as a stark reminder of the increasingly clever tactics employed by cybercriminals in the #cryptocurreny space. Users are advised to double-check website URLs, avoid clicking on suspicious links, and consider using security tools such as phishing detection extensions and hardware wallets to protect their funds.
The growing use of Punycode by scammers highlights the need for greater awareness and caution, especially when accessing financial platforms via web browsers