Friend.tech targeted by phishing scam as its volumes grow

On-chain threat monitoring system AegisWeb3 has issued a warning on X, alerting the community against phishing attacks imitating Friend.tech.

According to AegisWeb3, a phony X account called @friendtech_web3 recently announced an airdrop for the Friend token and directed users to a fraudulent website.

The bogus tweet has received much attention, with over 674,000 views thus far.

You might also like: What is Friend.tech, social platform earning over $1m in fees

Aegis’ warning comes on the heels of another scam update from Certik, a platform known for sending real-time tips about crypto scams and hacks.

On Aug. 19, Certik reportedly discovered a significant reduction in available liquidity on a counterfeit version of Friend.tech.

You might also like: Canadian police deploy Chainalysis Reactor to combat crypto scams

The security company stated that the unknown person had obtained 135 Ethereum (ETH) tokens valued at more than $226,000 as a result of the exit scam. In addition, CertiK warned members of the crypto community to exercise caution and only engage with legitimate projects.

Uniswap employee suspected

Recently, it was reported that a Uniswap employee pulled a similar heist, making off with about 14 ETH.

The Uniswap employee, allegedly identified as @AzFlin, created a meme coin called Frens that was purported to pool resources to buy Friends.tech shares.

However, slightly over an hour after deploying the coin, its developer removed all liquidity from selling the fake token, which amounted to 14 ETH, worth about $25,000.

In response to the alleged scam, Uniswap announced it had fired @AzFlin, stating the decentralized exchange did not “support or condone” the behavior.

Friend.tech’s popularity grows

Friend.tech is a decentralized social network (DeSo) whose beta version went live on Aug. 11. It allows users to tokenize their social connections, which they can then buy and sell from each other to send messages.

The platform has already seen a lot of use, reportedly making more than $1 million in fees in its first 24 hours and $2.8 million since it started.

As of this writing, the total revenue from the project is $818,620. There have been more than 650,000 transactions on the social site and more than 60,000 different traders.

Read more: Web3 projects lost nearly $314m in Q2, CertiK research shows
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Here’s how big food and beverage brands are using NFTs: Report

Image
The key supporting factors for the market are the adoption of blockchain technology and the demand for NFTs for transparency and traceability in the food industry. Nonfungible tokens (NFT) adoption is picking up steam across the food and beverage industry, with many fast-food chains displaying interest in this new asset class.  A report by ResearchAndMarkets.com states that the global food & beverage NFT market size is expected to reach USD 2,134.04 Million by 2032. These statistics have been evident as recently, Global fast-food brands , including Pizza Hut and Papa John’s, are discovering new ways to integrate NFTs into their marketing strategies.  The report states that the key supporting factors for the market are the adoption of blockchain technology and the demand for NFTs for transparency and traceability in the food industry. Unique ownership opportunities, using NFTs in virtual reality and video games, promotions and advertising from food companies and restaurants are o...
Read more

Strategist Warns Credit Suisse Next to Collapse — Says 'There's a Run on the Bank'

Market strategist Greg Foss has predicted that Credit Suisse will be the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday after the bank failed to raise capital from its largest investor. Credit Suisse Next to Fall, Says Strategist Market strategist Greg Foss warned about the impending collapse of Swiss banking giant Credit Suisse on the Coin Stories podcast, published Tuesday. His warning followed the collapses of several major U.S. banks, including Silicon Valley Bank and Signature Bank. Foss is currently executive director at Validus Power Corp. He was a founding shareholder of 3iQ Corp. and previously held the role of senior portfolio manager with a focus on credit strategies at Fiera Quantum. He was also a managing partner for credit strategies at both GMP Investment Management and Marret Asset Management, an...
Read more

Tax Authorities Of Argentina Check Bitcoin Wallets For Unpaid Taxes As Inflation Hits Max

Image
Mar 21, 2023 at 08:12 // News Author Nina Lyon An annual inflation rate of 100% is prompting Argentines to increasingly opt for cryptocurrencies. Bitcoin becoming a haven for Argentines The latest data points out that Argentina's annual inflation rate surpassed 100% in February 2023, reaching the highest level since the country's hyperinflation in 1991. Bitcoin and other cryptocurrencies have become a haven for Argentines trying to save their assets. However, Argentina's Federal Public Revenue Administration (AFIP) points out th...
Read more