A deceptive Ethereum wallet scheme has recently swindled millions of dollars by targeting cryptocurrency and NFT transactions. Security specialist Plumferno detected and tracked the fraudulent activities, which involved pilfering funds from inactive accounts, including those possibly impacted by the BlockFi bankruptcy.
Phishing Attack Targets Crypto Creditors
A phishing campaign deceived victims with emails posing as correspondence from bankrupt firms like BlockFi and FTX, accelerating the theft. The perpetrator likely obtained contacts from a January breach of the Mailer Lite email service, which also triggered another profitable phishing operation. Plumferno expressed concern that many victims, especially dormant account holders, might still be ignorant of the theft.
Scope and Impact of the Cryptocurrency Heist
Blockchain analysis revealed that since March 17th, the scammer’s wallet has received about $4.5 million in Ethereum, with a continuous influx of funds. High-value NFTs have also been part of the haul, with the thief trading items like Mutant Apes and Otherdeeds. As phishing scams gain traction, cybercriminals looted $300 million in 2021 alone, with even savvy crypto participants falling prey. These attacks tarnish the blockchain ecosystem’s reputation, but industry advancements in security are beginning to thwart such threats and instill safety.