Blockchain security firms have flagged suspicious activity on the Discord account of Metis, the Tier-2 network backed by Ethereum inventor Vitalik Buterin. Users of the altcoin project were warned of potential bad actor activity on the account, such as phishing scams. While users continue to advocate for security, this adds to the list of phishing and security breaches among web3 companies.
Metis Discord breach, altcoin project warns users!
Ethereum layer 2 network Metis experienced a breach on its Discord account. The incident was flagged by Blockahin security firms and users who noticed suspicious activity. In response to the incident, the altcoin project warned users not to interact with airdrop links to avoid losses:
URGENT: Metis Discord has been compromised, do not click on any “Airdrop link” or any other link. Stay safe while our team resolves this issue. Thank you.
After a while, Metis made a new announcement that the problem had been resolved. It made the following statement on its social media account:
We have identified and resolved the last issue. A spam bot was sending a lot of fake airdrop links to our channels, but we cleaned it up and disabled the necessary channel settings. Thank you to our noble community for their quick action on reporting. Remember to always monitor links sent to the group or your DMs. When in doubt, publicly ask a Metis moderator for help.
Phishing scams and hacks on the rise
This incident has been added to the growing list of dangers on Web3 this year. While initial reactions from the community were mixed, many hailed them for their quick response. Some users, however, pointed out that the response was quite delayed as they had noticed it some time ago. Despite this, the sentiment was generally good as future losses were averted.
As you have been following from Kriptokoin.com, the number of phishing scams has increased recently as the adoption of cryptocurrency has increased globally. Malicious actors continue to hack popular web3 social media accounts and similar platforms. Fraudsters post fake links, often as community favors, to attract users. Engaging with these links often results in asset loss and wider implications.
Cryptocurrency scams reduce market sentiment
Crypto scams have soared recently, affecting market sentiments. Various aspects, including phishing, bridge and platform attacks, and crashes, have plunged the overall market into the jungle for extended periods of time. An example of this is the implosion of FTX and the collapse of Terra’s stablecoin. Cryptocurrency scams are also determining the regulatory direction of the authorities. Anti-market lawmakers advocate for stronger, bottlenecking regulations on crypto firms. Pro-market commentators, on the other hand, argue that tighter regulation stifles innovation and drives investment to other jurisdictions.
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