PeckShield Detects Phishing Attack Diverting 2237 BNBs from Liquidity Providers

According to reports, PeckShield has detected phishing website attacks, diverting 2237 BNBs ($767800) from liquidity providers. The attacker has already transferred 780 BNBs to TornadoCash

Security team: phishing websites steal 2237 BNBs

Introduction

Phishing is a type of cyber fraud which involves the use of deceptive techniques to make people reveal confidential information or access codes. In the world of cryptocurrency trading, phishing attacks are a constant threat to liquidity providers who risk losing large sums of money when hackers gain unauthorized access to their wallets. Recently, reports have emerged that PeckShield, a blockchain security firm, has detected a phishing website attack on the Binance Smart Chain (BSC) network which has resulted in the loss of 2237 BNBs, equivalent to $767800.

What is Phishing?

Phishing is a type of cyber attack where hackers create fake web pages, emails or messages that appear to be coming from a legitimate source. The attacker deceives the user into providing their sensitive information by creating a sense of urgency or threat. In most cases, phishing attackers use social engineering techniques to trick people into clicking on the malicious links or downloading attachments that contain malware. Once the attacker gains access to the user’s password or access code, they can gain unauthorized access to the user’s wallet and steal money.

PeckShield Detects Phishing Attack

PeckShield is a blockchain security firm that specializes in protecting digital assets from hacking and phishing attacks. Recently, the company detected a phishing website attack on the Binance Smart Chain network. In this attack, a phishing website was created that looked identical to the official Binance website. The attackers then used the website to deceive liquidity providers into providing their wallet details, access codes and passwords. The attackers then used this information to gain unauthorized access to their wallets and steal their funds.

The Attack

In the phishing attack that PeckShield detected, the attackers managed to divert a total of 2237 BNBs, equivalent to $767800, from liquidity providers. The attackers were able to transfer 780 BNBs to TornadoCash, a privacy-focused decentralized exchange. TornadoCash is a platform that allows users to mix their cryptocurrencies and make them untraceable by hackers or prying eyes. The attackers used this platform to hide their identity and make their transactions difficult to trace.

Protection Measures

To protect oneself from phishing attacks, one needs to be wary of suspicious links, emails or messages. Always ensure that you only provide sensitive information on trusted websites and platforms. Also, ensure that you use strong passwords and two-factor authentication. In addition, always use reputable and reliable antivirus software to protect your computer from malware and viruses.

Conclusion

Phishing attacks are a constant threat to liquidity providers in the cryptocurrency trading world. They can result in the loss of large sums of money and are often difficult to trace. The recent phishing attack on the Binance Smart Chain network, which was detected by PeckShield, is a warning to all liquidity providers to be vigilant and ensure that they take adequate precautions to protect their wallets and funds.

FAQs

1. What is a phishing attack?

A phishing attack is a type of cyber attack where the attacker creates a fake web page or message that appears to be coming from a legitimate source. The attacker then tricks the user into providing sensitive information or access codes.

2. What is PeckShield?

PeckShield is a blockchain security firm that specializes in protecting digital assets from hacking and phishing attacks.

3. How can I protect myself from phishing attacks?

To protect oneself from phishing attacks, one needs to be wary of suspicious links, emails or messages. Always ensure that you only provide sensitive information on trusted websites and platforms. Also, ensure that you use strong passwords and two-factor authentication. In addition, always use reputable and reliable antivirus software to protect your computer from malware and viruses.