A group of hackers, operating under the name FrenTechPro, have stolen about $214,000 worth of cryptocurrency from users of seven different blockchains. The scam involved posing as a legitimate cross-chain bridge service called friend.tech, which allows users to transfer tokens between different networks.
According to PeckShield, a security monitoring firm, the hackers targeted blockchains such as Ethereum, BNB Chain, Base, Polygon, Arbitrum, OP Mainnet, and Avalanche. They exploited a vulnerability in the cross-chain bridges that connect these networks and enable seamless token transfers.
#PeckShieldAlert #Phishing Be cautious @frentechpro is a forged #friendtech X (formerly Twitter) account. The scammer has stolen ~$214K worth of cryptos on 7 Chains (#Ethereum, #BNBChain, #Base, #Polygon, #Arbitrum, #Optimism, #Avalanche)
— PeckShieldAlert (@PeckShieldAlert) October 16, 2023
Another Phishing Scam Hits the Crypto Community
The hackers used a fake account called ‘friendtech X’ to lure users into clicking on an ‘ACTIVATE NOW’ button, which would then prompt them to sign transactions that authorized wallet transfers. The hackers also created a phishing website that mimicked the appearance of the real friend.tech service.
Yu Xian, the founder of SlowMist, another security firm, was one of the first to alert the public about the FrenTechPro scam. He warned users not to trust the ‘friendtech X’ account or click on any links from it. He also advised users to check the domain name and SSL certificate of any website before using it.
嗯，钓鱼实锤，网页上的 ACTIVATE NOW 点击后会不断尝试盗钱包相关资产。
— Cos(余弦)😶🌫️ (@evilcos) October 16, 2023
Phishing scams are a common and growing threat in the crypto space. They involve impersonating legitimate platforms or services and tricking users into giving up their private keys, passwords, or funds. Recently, there have been several incidents of phishing attacks that resulted in large losses for crypto users.
For example, Fortress Trust, a crypto investment platform, lost $15 million due to a breach in its cloud provider. Another individual lost $24 million in cryptocurrencies after falling victim to a phishing attack on their Ethereum wallet.
The FrenTechPro scam is one of the most sophisticated and widespread phishing attacks to date. It demonstrates the hackers’ ability to exploit cross-chain bridges and target multiple blockchains at once. Users are advised to be vigilant and cautious when using any cross-chain service or transferring tokens between different networks.
The Crypto market has been slowly recovering from these attacks. The top 10 cryptocurrencies were all in the green, and the global crypto market cap rose 2.2%, reaching $1.08T in the last 24 hours, according to CoinMarketCap.