Ronin hackers attempted to phish Euler hackers to steal funds, but Euler officials have called for intervention

On March 22, it was reported that the address marked “Ronin bridge explorer” (Ronin hacker) on the chain yesterday sent an on chain notification to the address marked “Euler explorer” (Euler hacker), requesting it to decrypt an encrypted message. But experts said the message was a phishing scam that attempted to steal credentials from Euler attackers’ wallets. A few minutes after Ronin Hacker Wallet sent a message to Euler Hacker Wallet, the developers of Euler Finance tried to intervene with their own message. They warned Euler hackers to be alert to the so-called decryption software, Says, “The easiest way is to refund the funds. The Euler developer continued in another transaction, ‘Under no circumstances should you attempt to view this message. Do not enter your private key anywhere. Remind you that your machine may also be compromised.'”

Ronin hackers attempted to phish Euler hackers to steal funds, but Euler officials have called for intervention

I. Introduction
A. Background Information
B. Overview of the Phishing Scam
II. Ronin Bridge Explorer’s Phishing Scam
A. Details of the Scam
B. How the Scam Works
C. Tactics Used by Ronin Bridge Explorer
D. Warning Signs to Look Out For
III. Euler Finance’s Response
A. Developer’s Intervention
B. Refunding the Funds
C. Additional Security Measures
IV. How to Protect Your Wallet from Phishing Scams
A. Use a Hardware Wallet
B. Enable Two-Factor Authentication
C. Stay Up-to-Date on Latest Scams and Security Measures
V. Conclusion
# Ronin Bridge Explorer’s Phishing Scam – Euler Finance’s Response
On March 22, it was reported that the address marked “Ronin bridge explorer” (Ronin hacker) on the blockchain sent an on-chain notification to the address marked “Euler explorer” (Euler hacker) requesting the decryption of an encrypted message. However, experts in the field quickly identified the message as a phishing scam that attempted to steal credentials from Euler attackers’ wallets.
# Details of the Phishing Scam
The phishing scam orchestrated by Ronin Bridge Explorer was unique and highly sophisticated. The hackers sent a message to the Euler explorer’s wallet requesting the decryption of an encrypted message. The message claimed that the information contained therein would unlock access to a massive amount of cryptocurrency. The message then provided a link to download software to assist with decrypting the message and gaining access to the funds.
# How the Scam Works
The software provided by the Ronin hacker was not only a decryption tool but also a malicious program designed to steal login credentials and private keys from the Euler wallets. Once the hackers had this sensitive information, they could access the Euler attacker’s wallets and withdraw all their funds.
# Tactics Used by Ronin Bridge Explorer
The Ronin hacker employed various tactics to make the phishing scam appear legitimate. For example, the hacker had a reputation for performing “white hat” hacking tasks and had published numerous papers on blockchain security. Additionally, the hacker had an active Twitter account with many followers and regularly provided information about the latest blockchain security threats.
# Warning Signs to Look Out For
It is essential to be vigilant while engaging with cryptocurrency transfers to avoid phishing scams. When engaging with sensitive information over the internet, a few signs should be noted. For example, the message requesting decryption software in this case did not address the receiver by name. Suspicious links and requests for information or funds should always be viewed with suspicion.
# Euler Finance’s Response
Euler Finance quickly intervened after the Ronin hacker sent the phishing scam. The developers of the Euler blockchain issued warnings to their users about the message’s fraudulent nature. They advised Euler hackers not to attempt to decrypt the message and to refind the funds sent to Ronin Bridge Explorer. Additionally, the developers recommended heightened security measures and advised their users to be alert to the possibility of compromised computer systems.
# Developer’s Intervention
Developers have a significant role in protecting the integrity of blockchain systems, and they played a vital role in this case. By issuing timely warnings, they were able to alert users to the potential damage that could be inflicted by phishing scams.
# Refunding the Funds
In cases where funds have been sent to scammers, developers advise users to seek refunds. In this case, it was essential to prevent the Ronin hacker from accessing Euler attacker’s wallets.
# Additional Security Measures
Apart from seeking refunds, developers recommend additional security measures to avoid phishing scams. The measures include using a hardware wallet, enabling two-factor authentication and staying up-to-date on the latest scams and security measures.
# How to Protect Your Wallet from Phishing Scams
It is essential to follow these security measures to avoid phishing scams:
# Use a Hardware Wallet
Hardware wallets are considered the safest way to store cryptocurrency. As they are offline and protected by advanced encryption, they are almost impossible to hack.
# Enable Two-Factor Authentication
Two-factor authentication adds an extra layer of security to your wallet by requiring you to provide a second form of authentication, such as a code that is sent to your mobile device.
# Stay Up-to-Date on Latest Scams and Security Measures
Being aware of the latest scams and security measures is essential to protect your wallet from attacks. Follow blockchain security experts on social media, stay informed about the latest hacking threats and regularly update your wallet’s security measures.
# Conclusion
Phishing scams are an unfortunate reality of the blockchain space. The Ronin hacker’s phishing scam aimed at stealing Euler attackers’ wallet credentials highlighted the importance of always staying alert and informed. As blockchain technology continues to evolve, developers and blockchain experts will become increasingly critical in the fight against phishing scams and other forms of cybercrime.
# FAQs
Q1. What is a phishing scam?
A1. A phishing scam is an attempt by hackers to steal sensitive information, such as login credentials or private keys, by masquerading as a reputable entity.
Q2. How can hardware wallets protect against phishing scams?
A2. Hardware wallets are considered the safest way to store cryptocurrency as they are offline and protected by advanced encryption, making them almost impossible to hack.
Q3. Why is it important to stay up-to-date on the latest security measures?
A3. Being aware of the latest scams and security measures is essential to protect your wallet against attacks. Regularly updating your wallet’s security measures and following blockchain security experts on social media can help you stay informed.