Monday, May 20, 2024

Investigating a Series of Crypto Hacks: Slippage, Rugpulls, and Phishing Scams

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In the fast-paced world of cryptocurrency, where fortunes can be made and lost in an instant, it is important to stay vigilant against various hacking attempts and scams. In the last 24 hours, several incidents have caught the attention of experts and security firms. This article aims to investigate and shed light on these recent hacks.

Slippage Attacks:
PeckShieldAlert, a renowned security firm, has raised the alarm regarding slippage attacks on two different tokens. The first token is EI Risitas, known as $KEK, which experienced a devastating drop of -100%. An address with the code 0xFb42…769D was observed swapping a staggering 2,200,000,000,000,000 $KEK for 227.02 $WBNB, equivalent to approximately $52.6K. It is crucial to note that this “rugpull” token may share the same name as the legitimate one.

Similarly, another token called Strong Finance, identified as $STRONG, suffered an identical drop of -100%. An address with the code 0x9E83…2962 swapped 1,000,000,000,000,000 $STRONG for 26.75 $WETH, valued at approximately $61.1K. Just like the previous case, the #rugpull token bearing the same name as the legitimate one raised concerns.

Phishing Scheme:
In a separate incident, PeckShieldAlert reported a phishing scheme that resulted in significant losses for an individual. The address 0xf402…1845 fell victim to a phishing attempt, orchestrated by an entity named #Fake_Phishing187019. The victim incurred a loss of approximately 1.74M $RDT, which is valued at around $77K.

These recent hacking incidents serve as a reminder that the cryptocurrency market remains a prime target for cybercriminals. Investors and enthusiasts must exercise caution and adopt various security measures to protect their assets. Always double-check addresses, especially when engaging in token swaps, and conduct thorough research to differentiate genuine tokens from potential rugpulls or phishing attempts.

Security firms like PeckShieldAlert play a vital role in exposing such incidents and raising awareness. It is crucial for the crypto community to support and collaborate with these entities to prevent frauds and safeguard the interests of legitimate users.

Remember, in the world of crypto, being vigilant is paramount. Stay informed and be cautious with your digital assets to ensure a safe and secure experience.

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