Wednesday, October 5, 2022

New Moonbirds Hack Sees Over 29 NFTs Lost

29 Moonbirds non-fungible tokens (NFT) with a valuation of $1.5 million, have been lost from clicking bad links, according to Twitter user @CirrusNFT. 

Scammers are believed to have tricked victims into clicking fraudulent links that led to fake websites. @CirrusNFT, who was caught in the web of 29 Moonbirds scams, warns traders not to click on URLs they do not recognize nor save their favorite trading sites to their browsers.

However, A tweet from an account belonging to Dollar, a popular figure and NFT owner, reiterated that the alleged perpetrator has been partially doxxed by the crypto exchange and Proof Collective community, with FBI investigations ongoing.

Apparently, @CirrusNFT is not the only victim of the same NFT thief. Another Twitter user, @Sulphaxyz also stated that the culprit insisted on utilizing an unsavory “P2P” platform while he was trying to negotiate a sale.

As a result of a few high-profile scams, the NFT market has become clouded. Unfortunately, a few bad actors have spoiled the fun and gradually robbed the NFT ecosystem of its unique luster. This is a harsh wake-up call for NFT owners to exercise caution when dealing with third-party platforms, being quick to double-check every transaction from friends and strangers.

Cybercriminals recently distributed a phishing link through the OpenSea NFT marketplace’s official Discord channel. Dubbed the “YouTube Genesis Mint Pass,” the scammers promised free NFTs for anyone who clicked on it before the free collectibles are all claimed, according to The Verge. This also resulted in a loss of more than $18,000.

It is not uncommon for scammers to take advantage of a flaw in a blockchain’s design and steal millions of dollars, like in the case of Axie Infinity‘s Ronin Bridge.

According to Curt Dukes, executive vice president of the Center for Internet Security, a non-profit dedicated to cybersecurity. Eliminating fraud is tough but not impossible. With inclusions of patch management systems that help find and repair security problems and mandate the usage of multiple forms of multi-factor authentication to reduce system’s vulnerability. 

Ayo Alabi
Ayo Alabi is an experienced writer and Fintech enthusiast, passionate about educating people and helping businesses that want to see their Google search rankings surge. Her articles have appeared in a number of e-zine sites, with focus on balancing informative with SEO needs–but never at the expense of providing an entertaining read.

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