Cryptocurrency Websites Report Phishing Attacks Amid Market Meltdown

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As the crypto market crashed, several big crypto data websites were affected by cyberattacks, prompting users to connect their crypto wallets via a fraudulent pop-up.

A fraudulent popup appeared on several famous websites, including CoinGecko, Etherscan, DeFi Pulse, and others, encouraging users to connect their MetaMask wallets to use on the site.

This wallet is a cryptographic software wallet that can be accessed through phone or browser.

As reported with an ape skull logo and a now-disabled nftapes.win domain, the phishing attack appeared to promise a link to the Bored Ape Yacht Club initiative. To fix the issue, CoinGecko founder Bobby Ong informed CoinDesk that they are examining the core cause of the attack.

Ong believes the event was caused by a malicious ad script from Coinzilla, a cryptocurrency ad network.

Meanwhile, Etherscan said in a Tweet: “We’ve received reports of phishing popups via a 3rd party integration and are investigating. Please be careful not to confirm any transactions that pop up on the website.”

This type of cyberattack usually includes sending fake communications that look to come from a trustworthy source. Email is the most used method of communication. The purpose behind conducting such attacks is to steal sensitive information such as credit card and login information or infect the victim’s computer with malware.

Check Point Research last year discovered a phishing attack that used Google ads to steal someone’s credentials or trick them into logging into the attacker’s wallet so that any transactions they attempted would be received.

However, it should be noted that the latest attack on cryptocurrency data websites occurred when stable coins such as Terra Luna and Coinbase had major outages.

Previously, top crypto exchange Coinbase experienced a massive outage amid crypto mayhem, particularly with the coin Terra Luna, raising investor concerns.

The Coinbase outage occurred as Binance, the world’s largest cryptocurrency exchange, halted trading of Terraform Labs’ Terra (Luna) and TerraUSD (UST) tokens, which had plummeted by 98%, wiping out investors’ life savings.

Over $275 billion was wiped off the global crypto market cap in less than 24 hours on May 12 and Bitcoin fell to roughly $27,000, its lowest level since December 2020.

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