Loopring’s X account remained compromised at the time of this publication, and the exploiters posted multiple malicious links promoting a fake LRC airdrop.
Page of the project.
According to the blockchain security company CertiK, the links redirected users to a known wallet drainer connected to other phishing campaigns. The exploit lasted all day and the Loopring team had yet to regain control of their account as of press time.
It is unknown if LRC users or potential airdrop claimants have suffered any losses. Loopring had more than $98 million in total value locked when the project’s account X was hijacked, DefiLlama data showed.
The incident highlights a broader anti-security campaign in cyberspace targeting cryptocurrencies and blockchain-related projects. Analysis provider Dune also arrested its platform due to an increase in inorganic traffic, but quickly resumed operations.
Phishing scammers have launched attacks against several crypto platforms, such as NFT marketplace OpenSea and hard wallet maker Trezor. Decentralized social network Friend.Tech warned users against a group of scammers posing as crypto journalists, as crypto.news reported.
Nearly $27 million stolen by phishers in November 2023 also contributed to more than $173 million in estimated losses suffered by cryptocurrency participants, with exploiters rarely returning the funds, instead opting to launder the profits through through privacy protocols such as Tornado Cash.
Projects like JPEG have reportedly warned users to remain vigilant against hackers, while platforms like Binance and Tether reportedly helped authorities recover millions of funds stolen from victims through crypto scams.
