Attention: Giant Altcoin Hit by Phishing Attack!

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As we reported earlier, hackers can occasionally attack major NFT platforms such as OpenSea and Rarible and illegally take over crypto assets of users and investors. Crypto markets seem to have faced another fraud alert. The popular altcoin Solana (SOL), which ranks eighth by market cap, has been hit by phishing attacks.

Popular altcoin Solana under threat

Solana (SOL) network users seem to be faced with security issues once again. According to WuBlockchain, users of the Solana Network have suffered a series of phishing attacks, manifested in the form of websites that offer users content entries and then steal their SOL. As the SlowMist blockchain security company states, attackers are often targeting immutable token (NFT) users and investors who frequently use airdrops and enter various contests. Here’s how the hacking process works: At the beginning of the scam process, hackers create a fake page with the NFT description and the contest details. Later, after users log in to the website and sign the transaction, all SOLs in their wallets are emptied by the hackers and transferred to the crooks’ address.

The non-changeable token (NFT) industry is reportedly the most dangerous place for investors, especially on the Solana (SOL) network. Because, according to the information received, most of the projects in the cryptocurrency market aim to make short-term profits without the intention of further developing the ecosystem. Previously, many NFT investors have fallen victim to a series of attacks and exploits stemming from security issues in OpenSea, the largest NFT market out there. It is stated that the damage caused by the hackers is worth about 1 million dollars.

OpenSea is in trouble

The rapid decline in the activity of networks such as Solana (SOL) and Ethereum (ETH) is mainly due to the decline in popularity of the NFT industry among retail investors. OpenSea has already lost about 50% of its trading volume in the last 30 days. OpenSea is a marketplace for NFTs. It was founded on December 20, 2017 by Devin Finzer and Alex Atallah in New York.

The Ethereum (ETH) network, on the other hand, is facing the lowest network usage since summer 2021. Gas fees are currently reaching the local base, allowing users to make large transactions under $5. Layer 2 networks allow transactions for less than $0.1.