Cryptocurrency EducationEthereumIndustry AnalysisLINKNewsSecurity

CertiK Social Media Account Hacked In Ironic Twist

2 Mins read

According to reports, phishing URLs masquerading as legitimate social media posts have been used to steal cryptocurrency from user wallets on the CertiK social media account, a crypto auditing organization.

With over 340,000 followers, CertiK’s X (formerly Twitter) account appears to have shared a fraudulent link and encouraged users to utilize it to protect themselves against a cyber crisis.

Bad Guys Penetrate CertiK Defenses

On their X page, CertiK included a phony Revoke Cash link that led visitors to a wallet drainer. Users were notified by the blockchain security firm of a vulnerability in the Uniswap Router contract that “was allowing attackers to shift anyone’s tokens if approved to the Uniswap contract” in a post that has since been removed.

Revoke Cash’s official X account denied the claim, implying that CertiK’s X page had been hacked.

Based on data from DeFillama, Uniswap is the biggest decentralized exchange trading platform on Ethereum, with a locked value of around $3.8 billion. The operations of Uniswap remained unaffected by the news.

CertiK said it is currently investigating a breach of its social media account.

Users were also cautioned this morning not to interact with any postings from the main account until it is verified as secure by the company’s connected security alert account, which also stated that it is looking into the matter.

Phishing schemes are most often conducted online. In order to get personal and financial information from victims of these scams, dishonest people frequently pose as reputable organizations, banks, or service providers and provide false information to them through phony websites, emails, or social media accounts.

As of today, the market cap of cryptocurrencies stood at $1.62 trillion. Chart: TradingView.com

Phishing scammers typically send their victims emails or communications that seem to be from reputable sources. These communications request cash or personal information from the victims. By using phony websites that mimic authentic websites, they are able to obtain sensitive data such as credit card numbers, usernames, and passwords.

Crypto Market Sentinel Falls Prey To Hackers

Ironically, CertiK had been marketing its 2023 hacker security report, which provides data and insights regarding web3 security, only two days earlier. Crypto reporter Wu Blockchain said there was a recent hack on the official CertiK Discord site, which resulted in the replacement of its legitimate Discord with a fake one that promoted phishing links.

According to their research, 751 security incidents in 2023 resulted in the loss of approximately $1.8 billion in digital assets. Although the sum is still enormous, it is 51% less than the $3.7 billion in losses from hackers and other incidents that occurred in 2022.

CertiK’s analysis also revealed that there were over $686 million in losses during the third quarter of 2023, making it a very vulnerable quarter. Interestingly, private key compromises emerged as the most expensive attack vector, with losses exceeding $880 million in 47 distinct instances this year.

CertiK is a frontrunner among blockchain security companies. Major IT companies like Apple and Samsung have acknowledged the firm’s work, according to its website.


Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.