NFT Phishing Scam: How Hackers Stole $1.2 Million Worth of ETHs and Transferred Them to Tornado Cash

03/25/2023 02:05 • AI & Tech Insights • 69 views

According to information, according to CertiK monitoring, the EOA account address 0x64bEf638B75bC24dFb8643bDDD5db2F9a03Ba4FF associated with the NFT phishing address 0x18D023 has transferred the funds to Tornado Cash. Currently, a total of 701 ETHs (approximately $1.2 million) have been transferred to Tornado Cash from this EOA address.

The EOA account address associated with the NFT phishing address 0x18D023 has transferred funds to Tornado Cash

The rise of non-fungible tokens (NFTs) has captured the attention of the crypto community, with enthusiasts and investors flocking to buy digital assets that have been sold for millions of dollars. However, with the popularity of NFTs comes the rise of scams, as hackers take advantage of unsuspecting victims to steal their crypto assets.
According to CertiK monitoring, the EOA account address 0x64bEf638B75bC24dFb8643bDDD5db2F9a03Ba4FF associated with the NFT phishing address 0x18D023 has transferred the funds to Tornado Cash. Currently, a total of 701 ETHs (approximately $1.2 million) have been transferred to Tornado Cash from this EOA address.

What Happened?

The NFT phishing scam started with a fake website that was almost identical to a legitimate NFT marketplace. The website was designed to lure unsuspecting victims to enter their wallet addresses and private keys, which were then used to gain access to their funds.
Once the hackers gained access to the victim’s wallet, they transferred the Ethereum funds to another wallet address, which was linked to Tornado Cash. Tornado Cash is a decentralized mixer that allows users to send and receive cryptocurrency anonymously, making it difficult for authorities to trace the funds.

How to Protect Yourself from NFT Phishing Scams

As the demand for NFTs grows, so does the need for vigilance when it comes to scams. Here are some tips to protect yourself from NFT phishing scams:

1. Verify the Website

Always verify the website you are visiting before entering any sensitive information. Check the URL and look for signs of a fake website, such as misspellings or differences in design.

2. Do Not Share Your Private Keys

Never share your private keys, seed phrases, or recovery phrases with anyone. This information can be used to gain access to your wallet and steal your funds.

3. Use Decentralized Platforms

Consider using decentralized marketplaces or exchanges that do not require you to share your private keys. This can reduce the risk of falling victim to phishing scams.

4. Be Wary of Unrealistic Offers

Be cautious of offers that seem too good to be true. Always do your research and avoid rushing into investments without proper due diligence.

Conclusion

The rise of NFTs has opened up new opportunities for investors and collectors but has also attracted the attention of hackers and scammers. The NFT phishing scam is a reminder of the need for vigilance and caution when it comes to managing crypto assets.
As the industry continues to evolve, it is up to individuals and institutions to take the necessary measures to protect themselves and their funds.

FAQs

#1. Is Tornado Cash illegal?

No, Tornado Cash is not illegal. It is a decentralized mixer that allows users to send and receive cryptocurrency anonymously.

#2. Can my funds be traced after using Tornado Cash?

Due to the anonymity provided by Tornado Cash, it is difficult for authorities to trace the funds. However, it is still possible to track the transactions through the blockchain.

#3. Can I recover my stolen funds?

It is difficult to recover stolen funds in the world of cryptocurrency. It is important to take preventative measures and protect your private keys and wallet information to avoid falling victim to scams.

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