Phishing Website Attacks Steal 2237 BNBs ($767800) from Liquidity Providers

04/19/2023 04:44 • Tech Trends • 69 views

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

The crypto market remains a lucrative target for attackers, who are constantly seeking new ways to steal valuable cryptocurrency. In a recent report by PeckShield, the cybersecurity firm has detected phishing website attacks, which have diverted 2237 BNBs ($767800) from liquidity providers.

What is BNB?

Before we delve deeper into the report, let’s first understand what BNB is. Binance Coin (BNB) is the cryptocurrency used to trade on the Binance exchange platform. It is also used to pay for trading fees, withdrawals, and listing fees on the platform.

What are Phishing Website Attacks?

Phishing is a form of cybercrime where attackers create a fake website that appears to be legitimate in order to steal sensitive information such as usernames, passwords, and credit card details. In this case, the phishing websites were targeting Binance liquidity providers.

The Attack

According to the report, the attackers created fake websites that looked similar to Binance’s official website and claimed to offer better cashback rewards for liquidity providers. The attackers then lured the victims to enter their private keys and mnemonic phrases, which are used to access their wallets.
Once the attackers obtained the private keys and mnemonic phrases, they were able to gain access to the victims’ wallets and steal their BNBs. The attacker has already transferred 780 BNBs to TornadoCash, which is a privacy-enhancing solution for cryptocurrency transactions.

How Can You Prevent Yourself from Being a Victim of Phishing Attacks?

Phishing attacks can be difficult to detect, but there are some measures you can take to protect yourself from falling victim to such attacks:
1. Always verify the URL of the website before entering any sensitive information.
2. Use a hardware wallet to store your cryptocurrency, which can prevent attackers from gaining access to your private keys.
3. Enable two-factor authentication (2FA) to add an extra layer of security to your account.

Conclusion

Phishing website attacks are becoming increasingly common in the crypto space. It is important to be aware of such attacks and take the necessary measures to protect your cryptocurrency. Always verify the website’s URL, use a hardware wallet, and enable 2FA to prevent attackers from stealing your valuable assets.

FAQs

1. What is Binance Coin (BNB)?
BNB is the cryptocurrency used to trade on the Binance exchange platform. It is also used to pay for trading fees, withdrawals, and listing fees on the platform.
2. What are Phishing Attacks?
Phishing is a form of cybercrime where attackers create a fake website that appears to be legitimate in order to steal sensitive information such as usernames, passwords, and credit card details.
3. What can I do to prevent myself from being a victim of phishing attacks?
Always verify the website’s URL, use a hardware wallet, and enable 2FA to prevent attackers from stealing your valuable assets.

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