Growing Reactions After Multichain Exploitation: Fantom (FTM) Crisis

  • Fantom users were targeted by a group of scammers who launched a phishing scheme on Twitter.
  • The scam was initiated following a hack on the Multichain protocol, where assets worth approximately $125 million were illegally transferred to various wallets.
  • High-profile figures in the crypto community, including Binance CEO CZ, have issued statements on Twitter in response to the incident, warning users to be cautious of such scams.

Phishing Scam Targets Fantom Users Following Multichain Hack

Following a significant hack on the Multichain protocol, a group of fraudsters targeted users of Fantom with a sophisticated phishing scheme on Twitter. The scam was designed to trick users into believing that it was associated with the Fantom Foundation, leading to a significant backlash from the community.

Details of the Scam

The fraudsters used a method similar to many chain attacks, launching a Twitter phishing scheme that appeared to be associated with the Fantom Foundation. A tweet containing a phishing link was spread, falsely informing users of an emergency FTM distribution related to the Fantom network. This link was disseminated by the scammers, impacting users and causing them to believe it was associated with the Fantom Foundation.

sybil attack

Reaction to the Scam

This scam occurred in the wake of a hack on the Multichain protocol, where assets worth approximately $125 million were illegally transferred to various wallets. Subsequently, a tweet and a phishing link claiming to be associated with the Fantom Foundation were spread on Twitter. Such Twitter attacks are becoming increasingly common in the crypto industry.

Community Leaders Respond

Community leaders continue to warn users about the increasing prevalence of such phishing scams. As investors, it is crucial to be vigilant in such situations. Binance CEO CZ was among those who issued a statement on Twitter in response to the incident.

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Merritt Vale
Merritt Valehttps://en.coinotag.com/
Merritt Vale is a 24-year-old woman who has a strong affinity for the Dogecoin community and has a particular love for the altcoin Shiba. With a passion for understanding the latest trends and developments in the cryptocurrency industry, Merritt provides fresh perspectives and valuable insights to her readers.
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