Key Takeaways
- The tweets lure unsuspecting users with the promise of free Fantom coins.
- The link included in the tweet leads to a phishing website designed to trick individuals into revealing their sensitive information.
In the aftermath of a recent exploit targeting the cross-chain router protocol Multichain, scammers have taken advantage of the situation by spreading a phishing link on Twitter. This fraudulent scheme falsely claims that the Fantom Foundation, the organization behind the Fantom network, distributes FTM tokens to users affected by the Multichain attack.
The tweet, which has garnered significant attention, lures unsuspecting users with the promise of free Fantom coins. However, the link included in the tweet leads to a phishing website designed to trick individuals into revealing their sensitive information. The Fantom Foundation has promptly distanced itself from the scam, emphasizing that it is in no way associated with the distribution of FTM tokens through this method.
Multichain has responded to the situation by strongly advising users to cease all activities on the protocol and revoke any contract approvals linked to it. This precautionary measure aims to ensure user safety until comprehensive investigations are concluded and a detailed explanation is provided regarding the exploit.
Reassuringly, Binance CEO Changpeng Zhao has confirmed that the hack had no impact on the exchange, and users’ funds remained secure. Furthermore, Binance had already executed an asset swap and halted all Multichain deposits long before the incident occurred. CZ’s statement aims to instill confidence in Binance users and alleviate any concerns regarding the security of their assets.
The exploit that targeted Multichain resulted in the withdrawal of over $125 million worth of cryptocurrencies from various wallets on July 6. The impact extended beyond Multichain’s Fantom bridge, affecting other ecosystems such as Dogechain, Moonriver, Kava, and Conflux. Circle and Tether, two leading stablecoin issuers, have responded by freezing approximately $65 million in assets tied to the exploit.
The most targeted was the Fantom bridge, with approximately $122 million worth of Wrapped Bitcoin (WBTC) and USD Coin, among other altcoins, stolen from its reserves.
