Orbiter Finance: Beware of Phishing Scams!

On April 18th, according to PeckShield monitoring, orbiter [.] finance is a phishing website and not the official website of Orbiter Finance. In the past 4 hours, scammers have stolen approximately 38.4 ETH from approximately 50 victims and exchanged these ETHs for 79800 USDTs.

PeckShield: orbiter [.] finance is a phishing website where scammers have stolen approximately 38.4 ETHs

In recent times, many online scams have surfaced, with cybercriminals using various techniques to prey on unsuspecting individuals. One such technique is phishing, where scammers create fake websites that mimic legitimate ones to obtain sensitive information. On April 18th, according to PeckShield monitoring, Orbiter [.] Finance became the latest victim of phishing scams. This article highlights the phishing incident and offers ways to avoid such scams.

What Happened at Orbiter Finance?

Orbiter Finance is a legitimate decentralized finance (DeFi) platform that allows users to trade, lend, and borrow various cryptocurrency assets. Unfortunately, on April 18th, scammers created a fake website (orbiter [.] finance) that looked similar to the official website of Orbiter Finance. The fake website was designed to trick unsuspecting users into thinking it was the official Orbiter Finance site.
The phishing scam worked like this: the scammers sent out messages containing links to the fake website via email and social media platforms. Once users clicked on the link, they were directed to the fake website, where they were prompted to enter their wallet credentials. These details were then collected by the scammers, who used them to access users’ wallets and steal their cryptocurrency.

The Damage Done

In the four hours since the phishing scam began, scammers have stolen approximately 38.4 ETH (which is approximately $69,000 at the time of writing) from approximately 50 victims. The scammers exchanged these ETHs for 79,800 USDTs (which is approximately $79,800 at the time of writing).

How to Spot a Phishing Scam?

Phishing scams can be challenging to spot because scammers trick users into thinking they are on a legitimate website. However, there are a few things to look out for to help identify these types of scams:

Look at the URL

The first thing to do is to check the URL of the website you are visiting. If the URL looks strange or has additional characters, it is likely a fake website. For instance, the fake Orbiter Finance site had a period (.) in the url that alerted the users.

Be Careful with Links

Phishing scams often use tempting links that promise huge rewards or prizes. However, clicking on these links could direct you to a fake website. Always double-check the URL before clicking any links.

Check for HTTPS

Legitimate websites use HTTPS, a security protocol that ensures that data exchanged between the user and the site is encrypted. Look for the padlock symbol in the URL bar to indicate that the site is secure.

Be Wary of Requests for Personal Information

Phishing scammers often ask for sensitive information such as login credentials, social security numbers, or bank account details. Always verify the legitimacy of any organizations before providing this kind of information.

Conclusion

It is heartbreaking to see people lose their hard-earned money to scams, especially in the cryptocurrency world, where there have been many instances of scams and hacks. Phishing scams are becoming more common, and it is crucial that users take steps to protect their valuable assets. Be vigilant, double-check every link, and ensure you only access legitimate websites. By following these tips, you can reduce the chances of being a victim of phishing scams.

FAQs

Q: Can I get my stolen cryptocurrency back?
A: Unfortunately, stolen cryptocurrency is almost impossible to recover. Once it has been moved out of your wallet, it is out of your control.
Q: Can I report phishing scams?
A: Yes, you can report phishing scams to the relevant authorities, such as the Federal Trade Commission (USA), the National Fraud Intelligence Bureau (UK), or the Australian Cyber Security Centre (Australia).
Q: What should I do if I suspect a phishing scam?
A: If you suspect a phishing scam, immediately change your wallet passwords and enable 2FA authentication. Report the incident to the appropriate authorities and warn others in the cryptocurrency community.