China News Official TheBitTimes.com

Phishing scammers have been spreading fake news of a $37 million dollar Uniswap exploit using a convincing fake Blockworks website. Phishing scammers have cloned the websites of crypto media outlet Blockworks and Ethereum blockchain scanner Etherscan to trick unsuspecting readers into interacting with a phishing site. A cloned Blockworks site displays a fake "BREAKING" news report of a supposed multimillion-dollar “approvals exploit” on the decentralized exchange Uniswap and encourages users to a faked Etherscan website to rescind approvals. The fake Blockworks website (left) shows a fake breaking news story of a Uniswap exploit compared to the legitimate website (right). The fake Etherscan website, displaying a purported token and smart contract approval checker, instead contains a smart contract that would likely drain a crypto wallet when connected. Related: 85% of crypto rug pulls in Q3 didn’t report audits: Hacken The phishing website (left) compared to the legitim...

The newly created fake APT token called “ClaimAPTGift.com” made its way to 400,000 Aptos wallets, and users found they were able to deposit and sell it on the exchange. South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal. On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system. The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21. The fake token was likely part of a typical token airdrop scam, in which users are airdropped tokens that contain links pointing unsuspecting users to phishing websites. However, a reported failure by Upbit to properly verify the source code of the scam tokens led to the exchange recognizing the fake tokens as re...

National Australia Bank (NAB) has blocked suspected fraudulent payments to some centralized crypto exchanges (CEXs) as Aussie lenders continue to make efforts to curb crypto-based scams in the country. NAB blocks payments to some crypto exchanges  NAB is the latest financial institution to restrict crypto-related payments as part of a coordinated effort to curb scams. Per a recent research report released by the Australian Securities Exchange (ASX), 15% of investors in the nation hold bitcoin (BTC) and other cryptos in their portfolio, underscoring the massive demand for blockchain-based digital assets in the country. However, bad actors increasingly exploit Australians’ affinity for crypto to orchestrate scam schemes, bilking gullible victims. NAB says these scam schemes are a fast-growing security threat that cost Aussie investors $151 million in 2022 alone.  You might also like: Australian authorities invade Binance offices amid probe The lender has blamed its d...

What started with a comedy club would later become a notorious case of legal loopholes and frustration for the nonfungible token community. In Venezuela, humor plays an important role, either as a form of protest or a way to make sense of reality.  In November 2021, humor and nonfungible Tokens (NFTs) were combined with the launch of the Comedy Monsters Club (CMC) project. The project was led by Roberto Cardoso, better known by his former stage name “Bobby Comedia,” and co-founded with brothers José David Roa and David Roa. The project was advertised as the only comedy club to use NFT collectibles as membership. However, the hype would quickly turn to confusion for the project’s investors. An enticing narrative Comedy Monsters reached the NFT-curious Latin American audience through the well-known Venezuelan comedians. Cardoso and his co-founders appeared in publications like Forbes Mexico and on popular shows and comedy podcasts such as Nos Reiremos de Esto and Escuela de Nada . Lis...

Unsuspecting users looking to claim Blur token airdrops have had funds stolen by a number of fake websites. Scammers continue to prey on nonfungible token (NFT) users looking to claim Blur token airdrops through the use of numerous scam websites. According to data from TrustCheck, over $300,000 has been stolen from unsuspecting users that have linked wallets to malicious websites. The legitimate Blur platform is a newcomer to the NFT marketplace space and has made waves in the industry, with booming user numbers and trading volume a direct result of the platform’s three-phase airdrop incentive scheme. 10% of Blur’s total token supply was distributed to users based on their trading activity in its second token airdrop scheme from Feb. 15. The first airdrop was retroactive, awarding tokens to anybody who traded an NFT on Ethereum in the six months leading up to the platform’s launch in October 2022. The second airdrop awarded tokens to users who listed NFTs before Dec. 6, while the thi...

A better insight into wallet permissions and transaction flow can protect crypto users from phishing scams. This year was a turbulent one for the whole crypto space. From NFTs to DeFi and exchanges, all areas of the industry felt the cold blows of crypto winter. Unfortunately, such an unfavorable climate is the perfect breeding ground for scammers to exploit distressed investors’ crypto wallets. The most recent examples of crypto Scams include hackers stealing NFTs through over 500 fake Phishing domains, while robocallers started targeting FTX customers in the aftermath of the exchange’s crash. Such malicious attacks have become an everyday occurrence in the space, and the crypto community is actively working on protective measures. On one hand, investors are becoming wearier when interacting with Web3 domains and signing off access to their crypto wallets. On the other hand, up-and-coming teams are developing tools to give investors more ways to protect themselves against malicious...