The post Unstoppable Domains Targeted in Phishing Hoax; Ripple CTO Issues Scam Alert appeared first on Coinpedia Fintech News
Crypto-focused cybersecurity experts are warning that Unstoppable Domains, which produces domain service-related Ethereum websites, was the focal point of a phishing hoax.
Ripple’s CTO rounds off the list of threats to the crypto community by pointing out a phishing scam that targets users of the Unstoppable Domain, a major decentralized name service provider.
The scammers involved in the scheme using a post on X, formerly known as Twitter, send fake emails advertising a fake $UDOM token that they portrayed as live and ready for users to claim. The email displays clickable links; Schwartz advised recipients not to click on any link connected with the email because it leads to websites created to steal crypto funds. This phishing attempt was first discovered by an X user Arijit who posted a screenshot of such a deceptive email.
As much as Unstoppable Domains is one of the biggest players in the domain name space, it has never launched any token, which means this is a bare-faced scam to rip off users. Schwartz’s warning reiterates the fact that there is still no room for complacency as a lot of risks are still present such as phishing scams and fake token sales.
Some of the recent cryptocurrency scams are The Penpie hack where a hacker stole crypto worth $27 million and cashed out 11,160 ETH through Tornado Cash.
Likewise, WazirX was compromised with $235 million, and 7,200 Ether (about $17. 3 million) was passed through the Tornado Cash service. The dynamics of the Fenbushi Capital hack were similar—$42 million was taken from Bo Shen’s personal account, out of which 1,000 ETH was processed.
These occurrences clearly indicate that Tornado Cash is increasingly being utilized to launder the proceeds of crime while phishing seeks to exploit consumer suspicion, as evidenced by the Unstoppable Domains phishing scam. Thus as the threats from the cryptocurrency space are also increasing, the knowledge of potential risks and protection is essential.