Fraudsters stole $150k crypto from Fractal, a new NFT gaming project. The fraudsters send a fake link from Fractal’s official discord server to manipulate the users and get access to their crypto wallets.
How Fraudsters Stole $150,000 From The New NFT Project?
The buyers were looking for getting limited edition NFTs from Fractal, But nobody is assured about fate. And the fraudsters stole $150,000 from the crypto wallets.
The bad news of the scam was revealed on Tuesday. Officially announced by Justin Kan that the link sent by official fractal discord was fake to wipe off the crypto wallets of the users.
Unfortunately, the users who connected their crypto wallets with the link and waiting to receive new NFTs end up in empty crypto wallets.
By medium post, Tim Cotten, founder of another gaming platform, said that the fraudsters stole $150k crypto from the users’ accounts.
Fractal, Fresh Victim Of frausters who stole $150k crypto:
Twitch co-founder Justin Kan started a new NFT based gaming project. Specializing in the selling and purchasing of NFTs representing in-game assets. The announcement was made before December about this new project. After revealing the new NFT gaming project, it gathered more than 100,000 users through its discord. The great response makes it a target for fraudsters, that have encountered many NFTs projects since the start.
The fraudsters took benefit of the user’s priorities to get the NFTs at an early stage. Rather than purchasing them by visiting on the secondary market places, lately.
The high demand for tokens and airdrops often creates a hype amongst the users to move quickly to grab them. When snap announcements are made, it causes an attack vector that fraudsters are happy to benefit from.
However, the cryptography behind the cryptocurrency and NFTs are quite secure. Yet there are possibilities of attacks in the crypto ecosystem due to the extensive network of websites and applications.
Additionally, the official fractal tweet told that the fraudsters used Webhook to post the message on discord.
What Is Webhook?
It is a feature of web application design that lets an application listen for a message sent to a particular URL and trigger an event in response. Such as posting to a discord channel.
Moreover, a blog post by Fractal said that would fully compensate the amount the users had lost. Further, they apologized and put some responsibility for security onto followers of the project.
If something doesn’t feel right in crypto, please do not proceed. Even if at first it looks legitimate. We must use our best judgment as crypto has no undo button.
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