Crypto Scammers Target Paradigm Co-Founder in Phishing Attack - Latest cryptocurrency news

Crypto Scammers Target Paradigm Co-Founder in Phishing Attack

The cryptocurrency market continues to be targeted by scammers. Recently, scammers impersonating Matt Huang, the co-founder of leading capital company Paradigm, launched a phishing attack targeting Ethereum Layer 2 project Blast and investors associated with Paradigm and “eGirl Capital”. In this attack, thousands of dollars were defrauded by conducting fake transactions through a domain name with an “io” extension in exchange for 1,700 lira.

Chinese blockchain and cryptocurrency journalist Colin Wu reported that the scammer stole over $130,000 from victims through a phishing attack. The scammer deceived users by using a phishing link placed under the official Blast tweet, and this message has not yet been removed.

Technology & Populer Science News:

Phishing attacks are one of the fraudulent tactics designed to obtain users’ personal information. These types of attacks are usually carried out through email, SMS, phone calls, or fake websites. The main goal of phishing is to deceive people into revealing their sensitive information, such as usernames, passwords, credit card details, social security numbers, etc.

The scammer created a fake Blast website by impersonating Huang in order to gain people’s trust and redirect them to the link. They disguised themselves as Huang to lure users to this fake website.

Blast, an Ethereum Layer 2 project, was launched at the beginning of the week and attracted significant attention from users. Within a few hours of its launch, bridges were established for Ethereum (ETH) and stablecoins worth $30 million. Bridges are blockchain-based tools that allow users to transfer their cryptocurrencies between different networks. The success of Blast is seen as significant evidence of the strong demand for Layer 2 solutions.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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