The word “FREE” is always a significant red flag in promotional material or Solana Phishing attack case ‘Airdrops.’
Whether Love it or hate it, there’s no denying that NFTs are sweeping the globe. Every day, tens of thousands of new NFTs are produced, sold, and traded, but do you know how many are legitimate and which are fake?
A phony NFT giveaway and airdrop campaign called “Official Solana NFT Launch” was recently discovered. This bogus campaign, which is circulating as pop-up advertising and YouTube ads, is aimed to attack Sol (Solana Hodlers). These phishing attacks don’t work on average Crypto users most of the time, but Hackers found a way to get around this, and they did.
Solana Phishing Attack according to sources.
According to WuBlockchain, the Attacker targeted Solana Network consumers to a slew of phishing attacks in the form of websites that offered them content entry before stealing their SOL.
According to the SlowMist blockchain security firm, attackers typically target NFT users and investors who frequently participate in airdrops and contests. Hackers develop a bogus page including an NFT description and contest information. When consumers enter the webpage and sign off on the transaction, their SOL wallet is emptied and transferred to the hackers’ address.
According to reports, the NFT industry is the most dangerous place for investors, particularly on the Solana network. Most projects in the space are targeted at creating short-term profits with no goal of further strengthening the ecosystem.
Previously, numerous NFT investors were victims of a series of breaches and exploits triggered by security flaws on the world’s largest NFT marketplace, OpenSea. The cost of the hackers’ damage is estimated to be around $1 million.
The quick decline in activity on networks such as Solana and Ethereum is clearly linked to the NFT industry’s decline in popularity among retail investors. In the last 30 days, OpenSea has already lost over half of its trade volume.
In contrast, the Ethereum network has been experiencing its lowest network usage since the summer of 2021. Gas prices are now at a local low, allowing consumers to conduct massive purchases for less than $5. Transactions on Layer 2 networks are significantly cheaper, costing less than $0.1.
So this brings the question, how does the Attacker do it?
Actually, this is pretty simple. Attackers build a simple website or landing page similar to the official website. They publish it through ads or pay people to promote it.
When you enter the site by clicking on ads or in the Solana phishing attack case by getting NFT airdrops, you will be greeted with the official-looking website. If you put your credentials on their site, you can kiss your crypto goodbye.
Now, how can you protect yourself from these kinds of attacks?
- NEVER open attachments or links from unverified sources.
- The word “FREE” is always a significant red flag in promotional material or Solana Phishing attack case ‘Airdrops.’
- Use only legitimate wallet apps and browser extensions to avoid phishing frauds.
- Before you complete a transaction, double-check that everything is in order.
These are the simple yet powerful steps that will save you from phishing attacks most of the time. I said most of the time cause Attackers are way smarter than you and me. They will find new ways to rob us, so stay alert.
It’s not the new “thing.”
It’s not new, and hackers have been using it for decades. You’ve probably heard of Fortnite Vbucks generator or FB phishing scams in the past.
If we look at the past patterns of attacks, Hackers always target hot topics. In the past, it was Facebook IDs, Fortnite Vbucks, Minecraft phishing sites the list goes on. NFTs and Crypto are no exception, heck, and these are diamond mines for attackers.
To be blunt, Hackers don’t attack your wallet. They attack your greediness and fear. So be careful with the steps you’re taking.