FTM Distribution Scheme Triggered by Multichain Attack on Twitter

Phishing Link Spreading on Twitter

The relentless hackers have launched their latest attack, using a phishing link to spread through Twitter. This malicious link, falsely linked to the Multichain hack, has received numerous retweets, views and bookmarks from users.

The tweet included the phishing link, claiming it was associated with the Fantom Foundation, the non-profit organization responsible for the Fantom (FTM) crypto.com coin.

The XMON crypto, FTM crypto, SHIBA crypto today, AVAX crypto, ALGO crypto and FED crypto communities have all been affected by this malicious attack.

Crypto Industry Hacks

On July 6th, Multichain experienced a major setback when a significant amount of assets, estimated to be worth $125 million, were illicitly transferred to different wallets. The most affected asset was the Fantom bridge, which lost around $122 million of wBTC, USDC, USDT and other altcoins.

In light of these events, Multichain recommended users to suspend all activities on its protocol and revoke any contract approvals related to it, pending the conclusion of the investigation and a comprehensive explanation.

Changpeng ‘CZ’ Zhao, the CEO of Binance, used Twitter to inform his followers that the digital asset service provider was unaffected by the attack, and that all funds were safe. He also confirmed that Binance had already swapped assets and stopped accepting deposits from Multichain prior to the incident.

Crypto.com Coin, Shiba Crypto Today, FTX Crypto, Fed Crypto, Xmon Crypto, AVAX Crypto and Algo Crypto users should be aware of the growing prevalence of such Twitter hacks, and be cautious when clicking on unfamiliar links.