Nfts
Crypto scam and phishing on Blur Marketplace. NFTs worth $240,000 stolen
The world of cryptocurrenciesThe NFT sector in particular, is no stranger to risks. A recent incident Blur market highlighted how sophisticated scams can be in this space. One user lost NFTs worth $240,000 after being the victim of a phishing attempt. The news was revealed by a source on X (formerly known as Twitter).
The shot
The loot from the theft was three Elementals, 40 Beanz and six Bored Ape Yacht Club NFTsThese digital assets were then listed on the marketplace for just $1 WEI each. To put things in perspective, $WEI is the smallest unit of ether, making the list price virtually zero.
Scam mechanism
This phishing strategy proved to be remarkably sophisticated. The scammers exploited a loophole in Blur’s listing process. By manipulating the royalty settings of high-value NFTs, they were able to divert revenue to their address. By using a rule that voided existing transactions, they kept their activities hidden. The owner was unaware that the NFTs had been listed for sale. In essence, this maneuver bypassed the platform’s security measures. By manipulating the royalty settings of the NFTs, the fraudster was able to bypass the platform’s restrictions on private sales. This established a private sale, ensuring that the transaction could only be completed from their address.
PinkDrainer Scam in May
This is not the first time a similar scam has been revealed.. A similar case was reported in May by Coinfomania, where a scammer called PinkDrainer stole three Bored Ape Yacht Club NFTs worth around $145,000 from user tatis.eth. This demonstrates a worrying trend of sophisticated scams in the NFT industry. Soliditydeveloper and auditor 0xExitThe scammers also revealed the scammers’ strategies. Using the “bait-and-switch” technique, the scammer lured the victim by promising a free NFT creation event or airdrop, promoted on social media. The user was tricked into approving a transaction on a fake website.
Final considerations
The latest phishing case on Blur Marketplace highlights the risks in the cryptocurrency and NFT industry. Scammers are constantly finding new ways to exploit system vulnerabilities and deceive users. It is essential to stay informed and take security measures to protect your digital assets.
Safety recommendations:
- Authenticity verification. Always check the legitimacy of websites before approving a transaction.
- Continuing educationStay informed about the latest scams and vulnerabilities.
- Security tools. Use wallets with advanced security features and enable two-factor authentication.
Security in the world of cryptocurrencies requires constant vigilance and an understanding of potential threats. Only awareness and prevention can prevent significant losses such as those recently suffered on Blur Marketplace.