- 2 super airdrop hunters successfully secured ARB worth approximately $3.3 million.
- At press time, ARB token was trading at $1.29.
According to Cetrik, a blockchain-focused security firm, the hacker placed a phishing link into Arbitrum’s official Discord servers and suggested staying away from fake Twitter accounts of Arbitrum promoting token airdrops.
On Saturday, March 25, 2023, Certik Alert’s official Twitter account posted, warning not to touch any links until the Arbitrum team confirms they regained control of their discord server.
The Phishing message displayed on Discord offers “the chance to reclaim an additional stake in Arbitrum DAO Governance” while addressing the issue during the initial token claim drive.
A Phishing attack is promoted using deception technology; it works by deploying decoys in a network alongside real assets, such as domains, databases, applications, servers, cookies, files and credentials.
Clicking on such phishing links generally directs the victim to a fake website which encourages them to enter their personal information related to their private wallets. According to detailed research by a crypto media outlet, the phishing link of Arbitrum redirects the user to a blank website which displays a text “Astaghfirullah” which is a word borrowed from Arabic language in English it means “I see Forgiveness in God.”
On Friday, March 24, Lookonchain’s official twitter account informed that they found 2 super airdrop hunters successfully secured ARB worth approximately $3.3 million.
Arbitrum is launched as a scaling solution for Ethereum that uses optimistic roll-up to enhance the scalability and speed of the network. It has an ambitious future roadmap. It aims to launch its own layer-3 solution named Orbit.
Arbitrum was created by Offchain Labs, a blockchain research and development firm, and launched in September 2021. Its optimistic roll-up technology allows it to execute transactions off-chain, freeing up space on the Ethereum network and reducing the cost of transactions.
Arbitrum wishes to allow developers to deploy programs written in popular programming languages. Furthermore, it plans to expand its validator set to include more independent institutional validators and move its protocol to layer two with Arbitrum One.
At press time ARB token was trading at $1.29 with 24-hours trading volume of $1,096,595,750. The token holds 37th position in the entire crypto market and has a market dominance of 0.14%.
According to data from CoinMarketCap, in the last 24 hours, prices of ARB tokens jumped over 4.40% and the token’s lowest trading price was $1.1930 and highest was $1.3085; market capitalization rose by 4.08%.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/03/26/hacker-used-arbitrum-discord-server-to-launch-fake-arb-airdrops/