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.

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.

Due to the Multichain hack, Fantom Foundation is issuing an emergency FTM distribution to all users.

All users who have interacted with the FTM chain are eligible to claim.

Receive Now ➡️ https://t.co/UUOBcycz8t#Fantom #Multichain #FTM #FTMUSDT#FantomHackathon $USDC,…

— Fantom Foundation (@FantomFNlD) July 7, 2023

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.

Looks like another hack happened on Multichain. This DOES NOT affect users on @Binance or @Binance itself. We have swapped all assets out and closed deposits a while back. Regardless, we offer our assistance in helping with the situation.

Stay #SAFU. https://t.co/GGInbxFkic

— CZ 🔶 Binance (@cz_binance) July 7, 2023