A total of 99 thousand users Ethereum They recorded total losses of their incomedue to a perfect plan executed by cybercriminals that around 60 million dollars were stolen. The hackers introduced a vulnerability to one of the functions of the cryptocurrency platform, implemented in 2019, and thus attacked the accounts to take loot.
According to a review of Computer Today, cybercriminals attacked Ethereum’s Create2 function. This is an option within the platform that allows you to create new addresses from a string of characters.
Cybercriminals used this function to create fake addresses that resembled legitimate emails or identities, in the most traditional and primitive style of phishing. They sent messages to users, encouraging them to transfer their cryptocurrencies, obviously, to the fake addresses.
Once users transferred their cryptocurrencies to the fake addresses, cybercriminals could access them and transfer them to their own wallets.
The theft was discovered by cyber research company Scam Sniffer, a startup that tracks phishing sites and warns users about potential threats.
The cybercriminals who carried out the theft have not yet been identified. However, they are believed to be an organized group with experience in cyber attacks.
The theft of $60 million is a reminder that cryptocurrencies are a digital asset vulnerable to cyberattacks. Users should be careful when transacting cryptocurrency and should be aware of the latest cyber threats.
The world of cryptocurrencies is not going through a good time
Just five days ago, Binance CEO Changpeng Zhao announced that he would resign from his position and plead guilty to violating US anti-money laundering regulations.
Zhao’s decision came after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance for operating a cryptocurrency exchange without registering in the United States.
The SEC accused Binance of allowing US users to trade on its platform without complying with anti-money laundering laws.