Phishing Fraud Gang Steals $1.17 Million Worth of Ethereum: What You Need to Know
On April 17, it was reported that PeckShield monitored that 551.3 pieces of Ethereum were transferred from the address (beginning with 0x8452) of Monkey Drainer
On April 17, it was reported that PeckShield monitored that 551.3 pieces of Ethereum were transferred from the address (beginning with 0x8452) of Monkey Drainer, a phishing fraud gang, to eXch, worth about $1.17 million.
Phishing fraud gang MonkeyDrainer transferred 551.3 Ethereum to eXch
The rise of cryptocurrencies has led to an increase in fraudsters seeking to take advantage of unsuspecting investors. The latest example of this is the 551.3 pieces of Ethereum transferred from the address beginning with 0x8452 of Monkey Drainer, a phishing fraud gang, to eXch on April 17, 2021. The stolen Ethereum is valued at around $1.17 million. Here is what you need to know about this latest attack:
What is Phishing Fraud?
Phishing fraud is a type of cybercrime that involves sending emails or messages to individuals or organizations to trick them into divulging sensitive information, such as login credentials or financial information. Phishing fraudsters often create fake websites that look legitimate to lure victims into entering their login details. Once the fraudsters have access to these details, they can steal the victims’ assets or use them to launch other attacks.
How Did the Monkey Drainer Gang Carry Out the Attack?
The Monkey Drainer gang used a phishing scam to hack into the Ethereum wallets of unsuspecting investors. They created a fake website that looked exactly like the official Ethereum wallet website, and then sent out emails and messages to lure victims to the fake website. Once on the website, victims were asked to enter their private information, including their wallet addresses and private keys. Once the gang had access to this information, they could easily transfer the Ethereum to their own accounts.
What Can We Do to Protect Ourselves From Phishing Fraud?
There are several steps that we can take to protect ourselves from phishing fraudsters:
1. Don’t click on suspicious links: Be wary of clicking on links in emails or messages that come from unknown sources.
2. Verify URLs: Check the URLs of websites before entering your login information. Make sure that they are spelled correctly and that they start with “https,” which indicates that they are secure.
3. Enable two-factor authentication: Enable two-factor authentication on all of your online accounts, including cryptocurrency wallets. This will require the fraudsters to have access to your phone or email address in addition to your login information.
4. Keep your software up to date: Keep your software up to date with the latest security patches to prevent hackers from exploiting vulnerabilities.
5. Use a hardware wallet: Consider using a hardware wallet to store your cryptocurrencies. These wallets store your private keys offline, making it much more difficult for fraudsters to steal your assets.
Conclusion
Phishing fraud is a serious problem that we need to take seriously. The latest attack by the Monkey Drainer gang is a reminder that we need to be vigilant when it comes to protecting our assets. By following the above steps, we can reduce the risk of falling victim to fraudsters.
FAQs
1. What is Ethereum?
Ethereum is a decentralized blockchain platform that is used to build decentralized applications. It is the second-largest cryptocurrency in terms of market capitalization, after Bitcoin.
2. How can I tell if a website is legitimate?
One way to tell if a website is legitimate is to check its SSL certificate. This will indicate whether the website is secured with encryption, which is necessary to protect your information from fraudsters.
3. What should I do if I fall victim to a phishing scam?
If you fall victim to a phishing scam, you should immediately change your login credentials and report the scam to the appropriate authorities. You should also monitor your accounts closely for any unusual activity.
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