On October 16, crypto scammers ran an elaborate campaign targeting investors eager to acquire governance tokens for the World Liberty Financial project.
Trap for Investors
Scammers used an X account to promote a fake WLFI 'airdrop,' redirecting users to a phishing site. The scam account closely mimicked the real project and even had a golden verification checkmark.
How the Phishing Site Works
Users visiting the site were prompted to connect their crypto wallets and approve a malicious transaction, giving scammers full control of the wallets.
Rise of Phishing Attacks
According to CertiK, phishing attacks were the most damaging attack vector in Q3 2024, causing losses exceeding $343 million. Impersonation of legitimate crypto projects on X is a common tactic leading to increasing victim numbers.
Phishing schemes continue to cause significant financial damage to investors. Users should remain vigilant and verify the authenticity of accounts and sites they interact with.