A Fateful Night in 2023
One evening in 2023, on Spain's eastern coast, Olivier Acuña sat at his computer to transfer his entire life savings to another cryptocurrency wallet. It was a routine task he had done hundreds of times before, but this time, it ended in tragedy.
"Sending crypto is always nerve-wracking," Acuña told CoinDesk. This time, that anxiety proved justified. After clicking the send button, his cryptocurrency worth $400,000 vanished—stolen by an anonymous phishing scammer. The shock paralyzed him as his fists clenched and his body temperature rose.
This story highlights that no one is immune to crypto scams. Acuña, a seven-year veteran in the crypto industry, was well aware of the risks surrounding blockchain technology. Before entering the crypto world, he worked as a journalist, facing Mexican drug cartels and even enduring torture in prison. Yet, he became one of many victims of crypto fraud.
Crypto Scams on the Rise
In 2023, U.S. authorities received over 69,000 reports of cryptocurrency theft, totaling more than $5.6 billion in losses.
Recovering stolen funds is nearly impossible. While traditional banks offer insurance, cryptocurrency operates in a decentralized system that provides freedom but comes with significant risks. One wrong click can result in irretrievable losses.
The Fatal Mistake
Acuña couldn’t access his funds on his Ledger hardware wallet, so he turned to customer support on social media. A scammer posing as a support representative tricked him, and within 30 minutes, his funds were gone.
"Phishing scams are incredibly prevalent today," said Adrian Hetman, a Web3 security expert at Immunefi. "In crypto, phishing attempts remain a growing issue as criminals see it as an effective way to steal user funds and launch more sophisticated social engineering attacks."
Life Among the Cartels: Where It All Began
Journalism Amid Danger
Acuña began his journalism career in the 1990s, covering organized crime, elections, and corruption. His investigative reporting on drug cartels and government corruption caught the attention of major outlets like United Press International (UPI) and Reforma.
In the Mexican state of Sinaloa, home to Joaquín "El Chapo" Guzmán’s infamous cartel, Acuña risked his life to uncover the truth. But his fearless reporting eventually made him a target of Mexican authorities.
Arrest and Torture
Due to his work, Acuña was falsely accused of possessing a firearm and subjected to torture. "They tied me up, waterboarded me, and threatened to kill my family in front of me," he recalled. After spending two years in prison, the charges were dropped, and he filed a human rights lawsuit against the Mexican government.
A New Chapter in Crypto
Entering the Crypto World
In 2017, Acuña left his turbulent past behind and entered the cryptocurrency industry. He worked in public relations and production roles at companies like Electroneum, BloxLive, and IoTeX.
"When I first started writing about blockchain, I felt it was the solution to issues like freedom of speech and corruption," Acuña said. For him, crypto wasn’t just about profit but also about decentralization and justice.
The Pain of Losing It All
Despite losing his life savings, Acuña continues to work in the crypto industry. However, he warns that the industry still has a long way to go. "If we want mass adoption, crypto needs to be simple and safe," he said.
The Future of Crypto According to Acuña
Key Challenges for Adoption
Acuña emphasizes the need for better user experiences. "If we don’t get an app where you can manage all your crypto in one place, I don’t see how mass adoption will happen," he said.
Despite the challenges, Acuña remains optimistic. "Even after all the pain, I still love this sector," he concluded. His story serves as a reminder that decentralization brings freedom but also immense responsibility.

#CryptoScams , #CyberSecurity , #PhishingAttack , #CryptoNewss , #HackerAlet

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A wallet drainer operating on The Open Network (TON) blockchain has announced it is ceasing operations due to a lack of large investors (so-called "whales") in the network.
Service Shutdown and User Redirection
On October 7, an announcement was made by the TON-based wallet drainer, stating that it is officially shutting down and recommending its users move to another cryptocurrency draining service. Scam Sniffer, a Web3 platform focused on anti-fraud protection, shared a screenshot of this announcement. The #hackers explained that the lack of large investors in the TON ecosystem was the reason for the shutdown:
"Since TON has no whales and the community is small, we are closing down."
The announcement also urged users to switch to draining #bitcoin☀️ instead of TON, claiming that those who enjoyed draining on TON would "love" draining #BTC☀ as well.
New Focus and Departure from TON ( #Toncoin )
The wallet drainer directed its users to another service and announced that the TON-based draining system would not return. Back in June, some drainers had started focusing more on the TON ecosystem. Raz Niv, co-founder of Blockaid, noted that the amount of value flowing through TON had attracted the attention of more drainers.
Fake Transactions as a Trap for Users
One trick used by TON drainers involved fake transactions of 5,000 USDT. This scam exploited TON’s comment feature, which allows transfers to include custom messages, effectively masking the real purpose of signatures. Users were lured by messages such as "Receive 5,000 USDT" and a "Confirm" button, but once the transaction was signed, the tokens began to be drained.
Losses Due to Phishing
Scam Sniffer reported that similar scams in May resulted in the loss of 22,000 toncoins, which were worth over $150,000 at the time. Additionally, data shows that approximately 10,800 people fell victim to #phishingattack in September, with around $46.6 million in digital assets lost that month. The largest portion of these losses came from a single phishing transaction, which drained over $32 million in cryptocurrencies.
phising attack trick crypto holders into linking their wallets to fraudulent services like drainers, allowing malicious actors to withdraw their victim's funds without further verification.

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

 

1/ 🚨 Breaking: Alleged Phishing Attack on #SAVM Whale 🚨
🔗 Ongoing Outflow
🌐 Address: 0x0c008e6479a83be6a6c49d95c2029a6064136688
💼 Token: SatoshiVM | Amount: 193.676K
💰 Transaction: $2.55M | Price: $0.215
🗓️ Jan 25, 20:57
🔍 Details:
Whale 0x0c0 transferred out 193,676 SAVM to two addresses, 0xea5 and 0x406. Allegedly, the whale fell victim to a phishing attack, leading to the transfer of all SAVM to these addresses.
💸 Profit Turned Loss: In the past 11 hours, the SAVM tokens were sold for only 437 ETH ($892K) by the two receivers. The SAVM price plummeted by 48.39% in the last 24 hours.
🛡️ Stay Alert: This incident highlights the vulnerability of large holders to phishing attacks. The immediate sell-off and drop in SAVM price emphasize the market impact.
📊 Market Impact: Traders and investors should monitor the fallout from this event. The sudden sell-off could create uncertainty and impact the broader market sentiment.
2/ 🔄 Understanding the Alleged Phishing Attack
The whale, 0x0c0, bought 193,676 SAVM with 2.1M USDT in the last 2 days. The phishing attack resulted in the transfer of all acquired SAVM to addresses 0xea5 and 0x406 (Fake_Phishing276021).
🌐 SAVM Sell-Off: The quick sell-off of the acquired SAVM raises questions about the security measures in place and the impact on the token's value.
💻 Lessons Learned: This incident serves as a reminder for the crypto community to prioritize security measures, including two-factor authentication and vigilant fund management.
3/ 📈 Moving Forward: Impact on SAVM and Community
As the market reacts to this alleged phishing attack, considerations for SAVM and the broader community include:
🚀 SAVM Project: The SAVM project's response to the incident will be crucial. Communication and transparency will be key in maintaining community trust.
📉 Community Sentiment: Watch for shifts in community sentiment. Traders and investors may react to the news, potentially influencing market dynamics.
🛡️ Security Measures: Evaluate security measures implemented by projects and individual holders. A focus on enhancing security practices is imperative.
📈📉 #cryptonews #SAVM #phishingattack #CryptoSecurityIssue
(Note: This information is for educational purposes only. Conduct thorough research and seek professional advice before making investment decisions.)

What Is Phishing Attack?
Phishing stands out as one of the most prevalent and widespread cyber attack techniques. This form of assault falls under the umbrella of social engineering attacks, relying on psychological manipulation and exploiting human vulnerabilities. At its core, a phishing attack unfolds when a malicious actor assumes the identity of a trustworthy entity or business to deceive individuals and extract sensitive information, including credit card details, usernames, and passwords.
Typically, phishing attacks unfold through deceptive emails crafted to persuade users to access a fraudulent website. These emails commonly prompt users to reset passwords or verify credit card information, leading them to a counterfeit website that closely mimics the legitimate one. The primary variants of phishing include clone phishing, spear phishing, and pharming.
How Does It Work?
You might encounter an email urging you to visit a seemingly familiar website. However, this website is deceptive, and when you log in, you unwittingly furnish your credentials to the attacker. Other phishing tactics may involve concocted narratives and appeals for money, exemplified by infamous scams like the “Nigerian Prince” email scheme.
In the realm of cryptocurrency, phishing techniques have extended to stealing digital assets. For instance, a cybercriminal might craft a fraudulent replica of a website, altering the merchant’s wallet address to their own. This manipulation tricks users into making payments for a service that appears legitimate but is, in reality, a scam.
Recognizing and understanding phishing scams is crucial to avoid falling victim to them. Some scams exhibit high levels of sophistication, and a single unsuspecting click or a careless keystroke could result in significant losses. Stay vigilant to protect yourself from these evolving threats.
#Webgtr #phishingattack #BinanceTournament #BTC #etf

A devastating phishing attack has resulted in a staggering loss of $1.39 million worth of cryptocurrency for a PEPE token holder. The victim unknowingly signed a malicious Uniswap Permit2 transaction, granting the attacker unrestricted access to their wallet.
What Happened?
According to cybersecurity firm ScamSniffer, the victim signed an off-chain Permit2 signature, enabling the attacker to transfer Pepe (PEPE), Microstrategy (MSTR) and Apu (APU) tokens to a new wallet within just an hour.
Understanding Uniswap Permit2
Uniswap Permit2 was designed to simplify token approvals and reduce gas fees. However, its off-chain signature mechanism has become a vulnerability in the DeFi ecosystem, exploited by scammers to trick users into surrendering control of their funds.
How Permit2 Phishing Attacks Work
Scammers employ phishing websites or fake decentralized application (dApp) interfaces to deceive victims into signing malicious off-chain signatures. These signatures appear harmless but actually authorize attackers to perform Permit and Transfer From actions, granting them control over tokens.
The Danger of Off-Chain Approval
The off-chain approval process makes these attacks particularly insidious, allowing attackers to drain entire wallets with a single signature. Permit2's default setting allows access to the entire token balance unless manually restricted, a crucial step often overlooked by users.
Growing Trend of Permit2 Phishing Scams
This incident is part of a alarming trend, with other victims losing over $38 million in similar attacks this month. According to CertiK's Web3 security report, phishing and private key compromises accounted for the majority of crypto losses, totaling $343 million in damages.
Protecting Your Crypto Assets
To stay safe in DeFi:
1. Double-check permissions before signing transactions, especially off-chain.
2. Use secure wallets with extra security features.
3. Stay updated on phishing tactics and avoid suspicious links.
Stay Informed, Stay Secure
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$PEPE
#BNBChainMemecoins #phishingattack #Debate2024 #CryptoNewss #Write2Earn!