Venture capital firm Blockchain Capital, fell victim to a sophisticated phishing scam after its social media account on X, previously known as Twitter, was hijacked.
The perpetrators posted a series of fraudulent messages on August 9, promising a giveaway of “BCAP” tokens. They provided a link to a fake website closely resembling Blockchain Capital’s original site, intending to deceive users into linking their cryptocurrency wallets.
The fraudulent website had a minor alteration in its URL, adding an extra ‘n’, a detail easily missed by unsuspecting users. The scam strategy also involved a sense of urgency by stating the giveaway would only be available for a day, aiming to exploit the fear of missing out. Notably, to prevent potential exposure, the comments section was deactivated, inhibiting users from flagging the scam.
Prompt action from informed members of the blockchain community led to the swift identification of the deceit. Blockchain Capital reestablished control within hours, removing the misleading posts.
This cyber intrusion follows a broader pattern of scams in the crypto space, as highlighted by the (FBI) recently. The agency issued a warning about the increasing instances of criminals posing as (NFT) developers. These fraudsters hack into high-profile social media accounts, falsely advertising new NFT releases. Victims are directed to counterfeit websites where, once their crypto wallets are linmked, funds are syphoned using malicious smart contracts.
According to the FBI, stolen tokens are then laundered t
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Author: Vince Dioquino
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