• About Us
  • Jobs
  • Contact
  • Login
  • Register
Crypto Mufasa
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
Crypto Mufasa
No Result
View All Result
ADVERTISEMENT
Home Altcoin News

Biggest Uniswap Phishing Attack:Over $4.7M stolen!

Hania by Hania
July 13, 2022
in Altcoin News, General News
Reading Time: 6 mins read
A A
0
Uniswap Phishing Attack Over $4.7M stolen!
Tweet

In Brief:

  • Related articles
  • Top 5 Metaverse Tokens You Must Have In Your Portfolio
  • “India Leads The Global Crypto Adoption with 53% Of Users In 2023”
  • How it operates
  • It isn’t an exploit

Some individuals initially assumed the attack to be a Uniswap v3 protocol exploit, however it was soon made clear that it was actually the consequence of a phishing campaign.

Apparently, Uniswap v3 protocol’s liquidity providers (LPs) were the victim of an advanced and powerful phishing activity that saw attackers rob at least $4.7 million worth of ether (ETH). However, according to the community members, the losses might be even bigger.

Related articles

Top 5 Metaverse Tokens You Must Have In Your Portfolio

Top 5 Metaverse Tokens You Must Have In Your Portfolio

March 21, 2023
"India Leads The Global Crypto Adoption with 53% Of Users In 2023"

“India Leads The Global Crypto Adoption with 53% Of Users In 2023”

March 21, 2023

Among the first to sound an alarm about the attack was MetaMask security researcher Harry Denley, who on Monday informed his 13,000 Twitter followers that 73,399 addresses had received fraudulent ERC-20 tokens intended to steal their assets.

⚠️ As of block 151,223,32, there has been 73,399 address that have been sent a malicious token to target their assets, under the false impression of a $UNI airdrop based on their LP's

Activity started ~2H ago
0xcf39b7793512f03f2893c16459fd72e65d2ed00c

cc: @Uniswap @etherscan pic.twitter.com/5W51AikFuV

— harry.eth 🦊💙 (whg.eth) (@sniko_) July 11, 2022

According to a tweet from Binance CEO Changpeng “CZ” Zhao, the hack cost at least $4.7 million in ETH.

The cryptocurrency market has heard rumors that the incursion may have caused far greater losses, though.

A “huge LP” with roughly 16,140 ETH, worth $17.5 million, might also have been phished, according to prominent cryptocurrency Twitter user 0xSisyphus on Monday.

did a large LP get phished?https://t.co/3n6oruM8Hj

the v3 NFTs in 0x09b5 all originated from this wallet which has 16k ETH ($18m) sitting in it

— Sisyphus (@0xSisyphus) July 11, 2022

How it operates

According to Denley, the “UniswapLP” “malicious token” that was executed in the phishing attack is provided to naïve users in an effort to deceive them into thinking it is from the authentic “Uniswap V3.”Positions NFT” contract by changing the “From” field in the blockchain transaction explorer.

Users who were curious in their new tokens would be directed to a website that claimed to let them exchange their new tokens into Uniswap (UNI), which were worth approximately $5.34 each.

Biggest Uniswap Phishing Attack Over $4.7M stolen!

The portal might instead attempt to steal cryptocurrency from users’ wallets while sending the users’ address and browser client information to the attackers’ command centre.

According to a Reddit thread that also described the attack, the hackers had taken nonfungible tokens (NFTs), specifically Uniswap LP positions, as well as native tokens like Ether, ERC-20 tokens, and ERC-20 tokens from the victims.

Through Twitter on Wednesday, Uniswap Labs gave its own thorough explanation of how the fraud operated, highlighting the fact that the incident was a phishing scam and not an exploit.

1/ Yesterday, some Uniswap LPs unfortunately fell for a phishing scam, a problem far too common in crypto today. To be clear: there was no exploit. The Protocol always was — and remains — secure. Here’s what happened.👇

— Uniswap Labs 🦄 (@Uniswap) July 12, 2022

It isn’t an exploit

When Binance CEO Zhao initially raised the alarm about the attack, he called it a “possible exploit” of the Uniswap protocol on the Ethereum blockchain, which caused some stir in the cryptocurrency markets.

Uniswap team members observed the attack was a part of a phishing attack rather than a problem with the protocol, and Zhao reaffirmed this shortly after the post with another update.

Connected with the @uniswap team. The protocol is safe.

The attack looks like from a phishing attack. Both teams responded quickly. All good. Sorry for the alarm.

Learn to protect yourself from phishing. Don't click on links. 🙏 pic.twitter.com/FIXebz3iBC

— CZ 🔶 Binance (@cz_binance) July 11, 2022

The initial worrying remarks from CZ were made at the same time as the price of Uniswap plunged dramatically, reaching a 24-hour low of $5.34. Since the clarification, the price of UNI has increased to $5.48 at the time of writing, although it is still down 11% in the past 24 hours and 87.8% from its all-time high.

Also read :

THE AMERICAN CRYPTOCURRENCY COMPANY HARMONY WAS THE VICTIM OF A THEFT OF $100 MILLION.

WHAT IS A CRYPTO DUSTING ATTACK AND HOW DO I AVOID IT?

HACKED BEEPLE ACCOUNT NETS WORTH $438K FROM PHISHING SCAM

10 WAYS TO SECURE YOUR BITCOIN AND CRYPTO WALLET

Tags: BLOCKCHAINhackTokensuniswap
Tweet47Share76ShareSendPin18ShareSend
ADVERTISEMENT
Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Top 5 Metaverse Tokens You Must Have In Your Portfolio
NFT News

Top 5 Metaverse Tokens You Must Have In Your Portfolio

March 21, 2023
"India Leads The Global Crypto Adoption with 53% Of Users In 2023"
General News

“India Leads The Global Crypto Adoption with 53% Of Users In 2023”

March 21, 2023
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops
General News

Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

March 20, 2023
FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX/Sam Bankman-Fried scandal
Business

Sam Bankman-Fried Pleas The Court To Provide His Legal Bills Reimbursement Top Priority

March 16, 2023
shiba inu whale alert-shibarium
Altcoin News

Whale transferred $8.2 Million Worth SHIB Tokens: Shiba Inu’s Largest Whale Transfer After Shibarium Unleashes Potential

March 16, 2023
Euler Finance
Altcoin News

Euler Finance’s Bold Offer to Hacker: Keep $20M or Risk Prosecution

March 15, 2023
Bitcoin Hits $28k As Unpredictability Surrounds Banks
General News

Silicon Valley Bank Collapse Might Trigger A Run On US Regional Banks

March 14, 2023
Breaking_ New York regulators have closed Crypto-Friendly Signature Bank, claiming _systemic risk_
Regulation

Breaking: New York Regulators Have Closed Crypto-Friendly Signature Bank, Claiming “Systemic Risk”

March 13, 2023
Breaking_ New York regulators have closed Crypto-Friendly Signature Bank, claiming _systemic risk_
General News

Hedera Exploit: Smart Contract Code Targeted by Attackers

March 10, 2023
Load More
  • Trending
  • Comments
  • Latest
OKX: An all-in-one trading platform that supports cryptos, derivatives, staking, and lending

OKX: An All-in-one Trading Platform That Supports Cryptos, Derivatives, Staking, And Lending

December 27, 2022
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

Scam Alert: This Email Can Drain Your Crypto and NFT Wallet

January 21, 2023
Top 5 Metaverse Tokens You Must Have In Your Portfolio

Top 5 Metaverse Tokens You Must Have In Your Portfolio

March 21, 2023
HappyMiner

Earn Passive Income Cloud Mining With HappyMiner

March 19, 2023
Bitcoin ATM Rise Or Fall: In Less Than 60 Days, More Than 400 Machines Went Offline

Bitcoin ATM: How to use them?

1
All You Need To Know about Defi (Decentralized Finance)

All You Need To Know About DeFi (Decentralized Finance)

1
Robinhood enables the Web3 Wallet beta accessible to 10,000 users

Robinhood enables the Web3 Wallet beta accessible to 10,000 users

1
Mastercard Introduces a New Tool to Prevent Crypto Fraud

Mastercard Introduces a New Tool to Prevent Crypto Fraud

1
Top 5 Metaverse Tokens You Must Have In Your Portfolio

Top 5 Metaverse Tokens You Must Have In Your Portfolio

March 21, 2023
"India Leads The Global Crypto Adoption with 53% Of Users In 2023"

“India Leads The Global Crypto Adoption with 53% Of Users In 2023”

March 21, 2023
Crypto.com Will Be Laying Off 20% Of Its Workforce In 2023

Crypto.com Is One Step Closer To Obtaining An Operating License In Dubai 

March 20, 2023
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

March 20, 2023
Crypto Mufasa

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Navigate Site

  • Contact
  • Terms Of Service
  • Privacy Policy
  • Crypto Prices
  • Crypto Exchanges
  • Work With Us

Follow Us

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In