More than $4 million in cryptocurrency assets was recently stolen in a phishing scam via smart contract platform Solana (SOL), according to new data from a cybersecurity firm.
In the past month alone, malicious actors have used a variety of phishing methods to steal $4.17 million worth of digital assets from approximately 4,000 victims via the Solana blockchain, security firm Scam Sniffer said in a new blog post. They said they were able to steal it.
“Scam Sniffer first became aware of this when a victim reported an airdrop phishing incident to (SlowMist founder) evilcos. The victim, a ZERO token holder, opened a phishing website linked to the airdropped NFT (non-fungible token), signed a malicious transaction, and had his assets stolen…
Phishing NFTs were airdropped to targeted users who were ZERO token holders. Out of curiosity, users opened the phishing site and confirmed the transaction even though a message appeared saying the simulation had failed. However, the details of the transaction were concealed, and the assets were stolen due to the signature.”
According to Scam Sniffer, the initial hack leaked a total of $2.14 million worth of memecoins, including Bonk (BONK), ANALOS, and Analysoor (ZERO).
In the second attack, another memetic asset, ANALOS, BONK, Silly Dragon (SILLY), and a decentralized wireless phone network, Helium Mobile (MOBILE), generated approximately $2.02 million worth of revenue.
The cybersecurity company goes on to point out that hacking via SOL can only be initiated through direct transaction/signature verification, and that fraudsters are constantly improving their methods.
“Unlike most thefts on Ethereum that occur due to malicious authorization issues, the majority of Solana’s phishing signatures involve directly initiating transfers. Solana supports transaction simulations, but we can also see how anti-simulation and fake simulation results can be exploited to confuse users and increase the likelihood of malicious signatures.
As you can see, the wallet drain phenomenon continues to expand and blockchain is like a dark forest. Just one signature verification can cause you to lose everything. That’s because these scammers are constantly perfecting their ways to contact and deceive their victims at every step of the way.
“We must always be on guard to avoid becoming the next victim,” he said.
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