The hackers continue their relentless attacks, showing no signs of slowing down. Shortly after the Multichain hack, the scammers began spreading a phishing link on Twitter.
Fantom's fraudulent distribution (FTM) to users, falsely linked to the Multichain attack, is spreading rapidly on Twitter, attracting significant attention. The post has drawn a lot of attention from Twitter users.
In the tweet, the scammers stated:
โDue to the Multichain hack, the Fantom Foundation is issuing an emergency FTM distribution to all users. All users who have interacted with the FTM chain are eligible to claim.โ
A phishing link was included in the tweet and shared with affected users, leading them to believe that it is associated with the Fantom Foundation, the non-profit organization responsible for the Fantom network.
Due to the Multichain hack, the Fantom Foundation is issuing an emergency FTM distribution to all users.
All users who have interacted with the FTM chain are eligible to claim.
Receive now โก๏ธ https://t.co/UUOBcycz8t#Ghost #multichain #FTM #FTMUSDT#FantomHackathon $USDC,โฆ
โ Fantom Foundation (@FantomFNlD) July 7, 2023
On July 6, multi-chain encountered an alarming situation when significant departures were detected on its platform. In response, Multichain suspended operations to investigate the issue. By the end of the day, approximately $125 million worth of Multichain assets had been illicitly transferred to various wallets. The most targeted was the Fantom bridge, with approximately $122 million worth of Wrapped Bitcoin (WBTC), USD Coin (USDC), tie (USDT) and other altcoins stolen from their holdings.
Looks like another hack happened on Multichain. This does NOT affect users in @Binance either @Binance itself. We have exchanged all the assets and closed the deposits a while ago. Anyway, we offer our help to help with the situation.
Stay #ROW. https://t.co/GGInbxFkic
โCZ Binance (@cz_binance) July 7, 2023
In response, Multichain strongly recommended users stop all activities on the protocol and revoke any contract approval associated with it. This precautionary measure was advised until the investigations were concluded and a comprehensive explanation was provided.
Related: Circle, Tether Freezes Over $65M In Assets Transferred From Multichain
During the investigation, Binance CEO Changpeng "CZ" Zhao informed his Twitter followers that the exchange remained unscathed by the attack, assuring them that all funds were safe. Furthermore, he verified that Binance had already executed an asset swap and stopped accepting deposits from Multichain long time.
Cases of Twitter hacks like these are becoming more prevalent in the cryptocurrency industry. Users should exercise caution and refrain from clicking unknown links.
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