Digital artist Mike Winkleman, aka Beeple, is the latest victim of a phishing scam after his Twitter account was hacked.
Scammers shared a link to a website disguised as an alleged giveaway of artist Beeple's Lous Vuitton Non-Fungible-Token (NFT) collection.
The hacker used Beeple's Twitter account to send phishing links to fake NFT collections . In it, the attacker promised a surprise mint of unique and free NFTS. The hacker stole over 200 Ethereum (ETH) worth $400,000.
Twitter then secured the account and Beeple promised an update on the matter. In it, Beeple explains that he never planned a surprise mint.
Twitter Scam: 199 ETH stolen in 5 hours
Initially, it was reported that 36 ETH worth around $72,000 were stolen. Then , PeckShieldAlert pointed out that the scammers had indeed laundered 199 ETH through Tornado Cash's mixing service. Tornado Cash is a popular tool among hackers and scammers because it makes transactions much more difficult to track.
This type of scam is commonly used in the crypto market to lure in new investors. In this case, the victims were directed to a page pretending to be a sweepstakes of Beeple's Lous Vuitton collection.
Harry Denley, a security analyst at MetaMask , believes the account is likely to be taken over. "Twitter states that the source of the tweet is the Twitter web app and not an API integration."
The attacker stole a total of 438,000 US dollars with two scams . In the first attack, the hacker stole 36 ETH . The second attack included 62.35 ETH, 37.59 WETH and 45 NFTs. The scam ran for around five hours.
NFT fraud is rampant
There is no shortage of scams in the NFT market . Phishing attacks are the attackers' preferred method. A minting bonus is usually offered on the links. Once a person clicks the link, the assets are stolen from the user's wallet.
The attacks can already be found on all social media. Discord , Telegram, Twitter, YouTube and Instagram have all been affected. Destinations also include the Bored Ape Yacht Club (BAYC) and OpenSea .
NFTs are fast becoming a mainstream phenomenon. Therefore, it is now even more important to protect investors. Instagram will support NFTs from different blockchains. This could make it a suitable target for attackers.
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