Users searching for Aave on Google and clicking the first result had their assets worth $1.23 million stolen through a dangerous phishing website.
The incident involved the use of Uniswap's multicall mechanism to seize LP NFT authorizations and transfer assets. This highlights the security risks as the cryptocurrency market becomes more active.
MAIN CONTENT
A fake phishing website related to Aave has stolen $1.23 million in user assets.
Uniswap's multicall mechanism has been exploited to confirm LP NFT authorizations with fraudulent contracts.
How did the $1.23 million asset theft scam occur?
Cos, founder of SlowMist, confirmed on Twitter on July 21 that users searching for Aave and clicking the first result on Google had their assets stolen. The method used was to impersonate the Aave website, exploiting Uniswap's multicall mechanism to have users automatically sign LP NFT authorizations, resulting in assets being transferred to a fraudulent contract. This is clear evidence of how cryptocurrency criminals exploit technology to effectively execute phishing attacks.
What is Uniswap's multicall and why is it exploited?
Multicall is a mechanism that allows multiple commands to be executed simultaneously in a single transaction to save gas fees and increase efficiency. However, this mechanism also poses risks, as malicious actors can embed fake authorization commands, causing users to unintentionally confirm unreliable contracts. This is also why LP NFT wallets become easy targets when transacting with fake interfaces or contracts.
"We advise users to always carefully check the website address and be wary of unofficial links in the context of the rapidly heating cryptocurrency market, as the risk of phishing and cyber attacks could lead to total asset loss."
Yu Xian (Cos), CEO of SlowMist, July 21, 2023
What are effective tricks to protect assets against phishing attacks?
Users should validate the official access source, avoid clicking links from unclear third parties, especially when transacting on DeFi platforms like Aave and Uniswap. Additionally, using cold wallets, enabling security alerts, and checking authorization rights in Smart Contracts helps mitigate the risk of private key or token theft. Security experts always emphasize the importance of raising cybersecurity awareness in the cryptocurrency community.
What security alerts are experts emphasizing in the volatile cryptocurrency market?
According to SlowMist's report for Q2/2023, phishing attacks are significantly increasing as cryptocurrency trading volumes surge along with bull market phases. Website impersonation, malicious Smart Contracts, and stealing authorization rights are trending tactics aimed at exploiting unsuspecting users. Participants in the cryptocurrency market must act more cautiously than ever to protect their personal assets.
"The level of phishing attacks and cybersecurity incidents has increased by over 40% in the first half of 2023, requiring all investors to remain vigilant and adopt modern protective measures."
Blockchain Security Research Team, Q2/2023 Report
Practical measures to help mitigate phishing risks on the Blockchain.
Measure Description Benefits Use cold wallets (Cold wallet) Store private keys offline to avoid the risk of cyber attacks. Reduce the risk of token exposure and unauthorized contracts. Carefully check URLs and certificates Ensure access to the genuine site, with valid SSL encryption. Prevent access to phishing websites. Limit Smart Contract authorization rights Only grant necessary permissions and verify transaction confirmations. Reduce the risk of signing malicious contracts. Lock alerts and two-factor authentication (2FA) Enhance security for logins and transactions. Reduce the risk of wallet and exchange account breaches.
Frequently Asked Questions
How does phishing in cryptocurrency typically occur?
Phishing usually occurs through fake websites, phishing emails, or malicious links, exploiting Smart Contract authorizations to steal tokens and NFTs. Caution is needed when accessing and signing transactions.
How to identify the official Aave website?
Users should verify URLs starting with https, check security certificates, and refer to the official site or other reputable sources.
What is Uniswap's multicall and what are the dangers?
This is a feature that allows multiple commands to be executed in a single transaction, vulnerable to exploitation for fake authorizations if users do not pay attention to signing actions.
What should I do if I fall victim to phishing?
Quickly contact wallets and exchanges to lock accounts, report incidents to security teams, and alert the community.
What is the most effective cryptocurrency wallet security today?
Use cold wallets combined with two-factor authentication, grant minimal permissions to Smart Contracts, and regularly check transaction history.
Source: https://tintucbitcoin.com/nguoi-dung-mat-123-trieu-usd-do-phishing/
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