Some individuals using Uniswap V3 have faced a phishing attack. The attackers have stolen more than 7,500 ETH worth approximately $8.1 million.
Several users have lost ETH after experiencing a phishing attack using the Uniswap V3 protocol. Multiple sources are reporting that over 7,500 ETH was stolen. The incident has nothing to do with the Uniswap protocol, rather than malicious transactions perpetrated by the victims.
Uniswap Under Attack
Binance CEO Changpeng Zhao tweeted on July 12 that the exchange had detected a possible exploit on Uniswap V3, in which stolen funds were being laundered through mixing service Tornado Cash.
Metamask security researcher Harry Denly also noted that 73,399 addresses A malicious token was sent on July 11, giving these users the impression that they would be rewarded with Uniswap tokens.
Uniswap creator Hayden Adams has confirmed that the attack involved phishing and had nothing to do with the protocol. He urged users to beware of phishing attempts and take necessary precautions. The smart contract has been checked, and it appears to be fine.
Victims were sent a malicious token called UniswapLP and then sent to a website that said they could swap the malicious token for UNI. The website then read sensitive information and stole money from the purse. The total loss currently stands at $8.1 million, although the figure could be much higher as more information comes in.
This incident highlights the need for greater awareness about phishing attacks. This method of piracy remains a popular method of targeting unsuspecting individuals, and several major organizations have been affected.
Phishing attacks hit the NFT and DeFi markets
There are many ways in which a bad actor steals the crypto market, but phishing has become one of the most popular ways. Unfortunately, in this case, the onus is largely on the user to be careful – and many still click on malicious links thinking they are legitimate.
American actor and comedian Seth Greene was one of the latest to experience a phishing attack, losing four NFTs worth over $300,000. Crypto data aggregator websites have also been targeted, including major platforms CoinGecko, Etherscan and Dextool.
As such, companies in the space have done a great job of educating and informing parties to be careful. Metamask issued a warning saying that Apple users were at risk of phishing attacks, while the CEO of OpenC had to reassure users after the attack on the NFT market.