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Uniswap phishing scam spreading false exploit information, cybersecurity company warns

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The cybersecurity firm PeckShield Inc. has issued a warning about a phishing account that is disseminating false information about a phony Uniswap exploit.

In recent years, there have been a number of assaults and hacks in the Bitcoin sector. These attacks and other fraudulent activities are only a few instances of security problems that have harmed the reputation of the sector and hindered widespread adoption.


Phishing Scam Preys on Users of Uniswap

The phishing account, which is posing as Pocket Universe, claims that Uniswap users’ money is unsafe due to a Permits2 Contract problem. The fake account then asks users to delete their current approvals on the Revoke Cash website.

PeckShield informed all Uniswap users of a phishing assault via its Twitter network, advising everyone to exercise care and avoid becoming a victim. The company emphasized that the exploiter’s tweets are intended to trick readers into clicking a phishing link and giving up their token.

It emphasized that in order to prevent falling for such frauds, users should always confirm the validity of accounts and information sources before acting.



Notably, @PocketUniverseZ, the official Pocket Universe account, has an extension to protect users against scams.

Other crypto exploits and scams

The incidence of fraud of all types has grown with the use of cryptocurrencies. Because of the anonymity afforded by blockchain technology, cybercriminals have devised a wide range of strategies.

A DeFi security assessment states that the first few weeks of March saw over half of the assaults and losses during the first quarter of Q1. With losses of $196 million and $120 million, respectively, Euler Finance and Bonq DAO exploits were the two biggest losers for the quarter.

Due to a vulnerability, CoinDeal lost $45 million, while the Monkey Drainer Phishing crooks came in fourth place with a loss of $16.5 million to bad actors.

A total of $130 million, or 28.7%, of the $452 million in stolen money, was eventually recovered in the first quarter of 2023. A 40% recovery rate, or $520 million, of the $1.3 billion stolen in Q1 2022 was found.

Out of the 49 theft cases in the study, six flash loan assaults caused losses of over $200 million, with Euler Finance being responsible for the majority of the total. With 17 cases, smart contract exploits were the most common type of attack.

On February 2, a bug in the BonqDAO smart contract cost BonqDAO and AllianceBlock $120 million. An $8.5 million flash loan assault was aimed against Platypus Finance, an automated market maker (AMM) that offers steady swap options.