Friend.tech Wallet Phishing Scam - Trader Loses 22 ETH, Binance Confirms
Portfolio Pulse from Khyathi Dalal
Friend.tech wallet was recently targeted in a phishing scam, resulting in a user losing 22 Ether (ETH), valued at $34,800. The stolen ETH was transferred via Orbiter and ended up in Binance. This follows a recent spike in SIM-swap attacks on friend.tech platform users, leading to the loss of almost 109 Ethereum from four users in less than a week. Crypto investment firm Manifold Trading estimates that around $20 million is at risk if about 33% of friend.tech accounts are linked to phone numbers.
October 10, 2023 | 2:24 pm
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NEGATIVE IMPACT
The phishing scam on friend.tech wallet and the recent SIM-swap attacks could potentially impact the trust in the security of Ethereum transactions, possibly affecting the price of ETH in the short term.
The news of the phishing scam and SIM-swap attacks on friend.tech wallet, which resulted in significant loss of ETH, could potentially shake the confidence of investors and traders in the security of Ethereum transactions. This could lead to a decrease in demand for ETH, thereby affecting its price.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100