More than $4.7M stolen in Uniswap fake token phishing attack
A classy phishing marketing campaign concentrating on liquidity suppliers (LPs) of the Uniswap v3 protocol has seen attackers make off with at the least $4.7 million value of Ether (ETH). Nevertheless, the neighborhood is reporting the losses may very well be even higher.
MetaMask safety researcher Harry Denley was one of many first to boost the alarm bells of the assault, telling his 13,000 Twitter followers on Monday that 73,399 addresses had been despatched malicious ERC-20 tokens to steal their belongings.
⚠️ As of block 151,223,32, there was 73,399 tackle which have been despatched a malicious token to focus on their belongings, beneath the misunderstanding of a $UNI airdrop primarily based on their LP’s
Exercise began ~2H in the past
0xcf39b7793512f03f2893c16459fd72e65d2ed00ccc: @Uniswap @etherscan pic.twitter.com/5W51AikFuV
— harry.eth (whg.eth) (@sniko_) July 11, 2022
Not less than $4.7 million in ETH has been misplaced within the assault, according to a Twitter put up from Binance CEO Changpeng “CZ” Zhao. Nevertheless, there are additionally experiences among the many crypto neighborhood that there could also be extra vital losses from the incursion.
Outstanding Crypto Twitter person 0xSisyphus famous on Monday {that a} “giant LP” with round 16,140 ETH, value $17.5 million, might have additionally been phished.
did a big LP get phished?https://t.co/3n6oruM8Hj
the v3 NFTs in 0x09b5 all originated from this pockets which has 16k ETH ($18m) sitting in it
— Sisyphus (@0xSisyphus) July 11, 2022
The way it works
In keeping with Denley, the phishing assault works by sending unsuspecting customers a “malicious token” referred to as “UniswapLP” — made to seem as coming from the respectable “Uniswap V3: Positions NFT” contract by manipulating the “From” area within the blockchain transaction explorer.
Customers inquisitive about their new tokens could be directed to a web site purporting to permit them to swap their new tokens for Uniswap (UNI), value $5.34 every on the time of writing.
The web site would as an alternative ship the customers’ tackle and browser consumer information to the attackers’ command heart, which might additionally try to empty cryptocurrency from their wallets.
A Reddit put up additionally explaining the assault noted that the attackers had stolen native tokens similar to Ether, ERC-20 tokens and nonfungible tokens (NFTs) (particularly Uniswap LP positions) from victims.
Please remember that there’s presently a Phishing rip-off taking place that targets Uniswap V3 LP’s.
It doesn’t seem like a Uniswap protocol hack.
It doesn’t matter what, if you happen to get tokens airdropped to your pockets of ynknown origin – DON’T Work together with them !!!
— Mel (@belikewater893) July 11, 2022
Not an exploit
Binance’s CEO Zhao created some waves within the crypto markets when he first sounded alarms in regards to the assault, calling it a “potential exploit” of the Uniswap protocol on the Ethereum blockchain.
Associated: Finance Redefined: Uniswap goes in opposition to the bearish traits, overtakes Ethereum
Zhao clarified quickly after the put up with one other replace, sharing a dialog with the Uniswap workforce, who famous the assault was a part of a phishing assault slightly than any concern with the protocol.
Linked with the @uniswap workforce. The protocol is protected.
The assault appears like from a phishing assault. Each groups responded rapidly. All good. Sorry for the alarm.
Be taught to guard your self from phishing. Do not click on on hyperlinks. pic.twitter.com/FIXebz3iBC
— CZ Binance (@cz_binance) July 11, 2022
CZ’s preliminary alarming feedback coincided with a pointy drop within the Uniswap worth, which fell to a 24-hour low of $5.34. The worth of UNI has since recovered following the clarification to $5.48 on the time of writing however continues to be down 11% in 24 hours and is 87.8% down from its all-time-high.
