Another User Loses Entire Portfolio to Phishing Scam


Another User Loses Entire Portfolio to Phishing Scam

Yyctrader, the head of news at a known crypto news agency, has become the latest victim of a crypto phishing scam orchestrated via the growing Social-Fi App, which saw his wallet emptied.

In a recent tweet, Yyctrader narrated the harrowing incident that left his crypto portfolio compromised, expressing deep regret for his mistakes. Specifically, Yyctrader disclosed that his wallet had fallen victim to a phishing scheme, losing his entire portfolio of 22 ETH worth $34,958.

My friendtech wallet was compromised through an elaborate phishing scam and my 22 ETH portfolio was nuked to 0😢

They just bridged my ETH using Orbiter, and some has just been deposited to @binance

— yyctradΞr (@yyctrader1) October 10, 2023

In an effort to raise awareness and prevent others from falling victim to similar scams, Yyctrader recounted the sequence of events that led to his unfortunate predicament. He revealed that the scam began when he was approached by an individual claiming to represent FriendMEX, the trading platform for users.

Given their shared server connections, Yyctrader admitted to making the initial mistake of engaging with the individual. He noted that another person posing as a colleague from the same organization scheduled a Discord call with him.

During the call, they manipulated Yyctrader into clicking on a link to supposedly inspect their product. Yyctrader noted that clicking on the link was his second critical mistake. Besides, to further deceive him, they scheduled a follow-up call for the following day.

However, immediately after concluding the call, the attackers initiated a series of ETH transfers from his wallet. Yyctrader admitted that his biggest mistake was opening the phishing link in the same web browser where his Friendtech wallet was actively running.

The oversight allowed the scammers to exploit the connection between his browser and the wallet, ultimately enabling them to siphon his crypto assets without requiring additional login credentials or information.

According to the prominent blockchain security tracker PeckShieldAlert, the scammers have already transferred the stolen funds from Base, a Layer-2 scaling solution, to Ethereum via Orbiter, a cross-chain bridge. After all the movements, the scammers have deposited some of the stolen funds to the Binance exchange to cash them out.

Five days ago, Coin Edition reported a fraudster scammed four users via a SIM-swapping security breach.

General Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.


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