Twitter Account of GateIO hacked to Promote a Phishing Scam
Hackers of unknown origin gained control of the official Twitter account of cryptocurrency exchange Gate.io and altered the website URL to a fraudulent website mimicking the exchange, Cointelegraph reported.
Hackers are driving the mission through the social networks to do their thing. This time, they compromised the official Twitter account of a popular crypto exchange to promote a phishing scam. The fake website reportedly promoted a a prize of 500 USDT to the first 1,000 winners who claimed the reward by connecting their wallet to a fake phishing page, pretending to be the platform’s official site. Rewards are used as a pretext to gain access to users' personal funds.
According to Cointelegraph, social media platform Twitter serves as an effective medium to establish connection with the cryptocurrency community. As a result, the trend of hacking into official Twitter handles of verified accounts to ensure scams promotion has been increasing. Hackers of the unknown origin took over Gate.io’s Twitter account and altered the website uniform resource locator (URL) from Gate.io to gate.com (https://xn--gte-ipa.com/) — a fraudulent website mimicking the exchange.
Experts feels that, the hacker could have obtained up to a maximum of 3.3 million dollars if he had reported the code flaw. Since January 2022, the DAO has offered that amount as a reward to those who detect errors that can cause millionaire losses of funds.
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