“Threats to the Crypto Community: Deceptive Wallet Domains and Phishing Attacks on Web3”


New Threats to the Crypto Community

The latest reports from the world of cryptocurrencies bring alarming news of a growing number of scams targeting investors and users of digital wallets. Hayden Adams, the founder of Uniswap, and other industry leaders are noticing increasingly sophisticated forms of attacks aimed at extorting cryptocurrencies. One of the newest examples is a scam involving wallet addresses being used as Ethereum Name Service (ENS) domains.

Hayden Adams’ Warning

Hayden Adams, known for establishing the decentralized exchange Uniswap, has issued a warning to the cryptocurrency community through the X medium. In his announcement on February 14th, Adams informs that scammers are impersonating his Ethereum wallet, using it as an ENS domain with the extension .eth. There is a risk that when sending cryptocurrencies, they may end up at the wrong address of the scammer instead of the intended recipient.

Industry Leaders’ Reactions

Taylor Monahan, the founder of MyCrypto, recalled that a similar scam vector was previously exploited in the early days of MyEtherWallet. Nick Johnson, the founder of ENS, advises caution, avoiding automatic name completion by user interfaces, and following security recommendations.

Phishing Attack on Web3

In addition to scams related to wallet addresses, the cryptocurrency community recently faced a phishing attack on companies within the Web3 ecosystem. Scammers impersonating reputable entities such as Cointelegraph or WalletConnect sent fake emails promoting airdrops. This attack was a result of a security breach by a marketing firm, MailerLite, leading to the takeover of Web3 accounts by hackers.

Extent of Losses

The research team at Nansen estimated that scammers have already made around $3.3 million using a phishing wallet since the beginning of the campaign. Faced with the increasing complexity of attacks and the growing awareness of the crypto community, it becomes necessary to implement additional security measures and provide education on cybersecurity.

Cryptocurrencies bring many new opportunities, but they also require caution and awareness of the risks associated with cyberattacks. The recent events demonstrate the importance of securing digital assets and continuously monitoring potential threats in the cryptocurrency environment.