ICO Participants Lost more than 150,000 USD in a Hacker Theft Attack

0
221

We hear regularly that some users get tricked by hackers in the form of cryptocurrency trading whether it is Litecoin, Monero, BitCoin, or Ethereum, all share the same strategy. Hackers are smart enough to use malware to trick innocent users by sending the cryptocurrencies to a misleading address as an example. Experty ICO participants are an example of a victim by an anonymous hacker who sent them cryptocurrency funds to a wrong address.

Users Tricked by Fake ICO Announcement Email

Experty users who signed up in a malware site got tricked on the January 26 and 27 and that started by receiving emails that had the prefix of ICO. The purpose of these emails was to ask Experty to send money to an Ethereum wallet in order to buy EXY tokens and be part of the ICO. The hacker was smart in making the date close to January 31, which was the actual date the real Experty ICO planned to make the campaign of selling the tokens. The researcher Indrajeet Bhuyan, a security researcher, is the one who later proved that the email is a fake one where he found that the address posted in the email is not the one for the Experty team. The issue is that the Experty team had announced earlier that they would sell the tokens for cryptocurrency, which made the hackers find this chance as a good medium to receive some ransom fees.

The hacker received around 150K USD, which was done over 74 transactions. Therefore Experty and Cryptocurrency services are warning the consumers about sending the fees to the wrong address.

Statements Released by both Experty and Bitcoin Suisse

Experty claimed that the hacker had the opportunity to access the email list of Experty, where he could be able to contact these people although the domain is private. However, Bitcoin Suisse claimed that no private information about any customer was leaked. An email called ico.experty.bitcoinsuisse@tindie.com sent some random emails to some customers to buy tokens in exchange of Bitcoin, so both Experty and Bitcoin are warning the customers to send any fees to the address attached to this email.
Unfortunately, any customer who sent fees to this wallet will not be able to retrieve his\her funds since these funds cannot be traced.

Participating in ICOs bears other Risks.

Forbes published an article that claims that many ICO domains are the target of the coming hackers as it offers the medium sufficient for them to grow. Cyber Unit made the first hit against PlexCoin earlier in December 2017 powerfully to the extent that investors reclaimed 13x return. In August 2017, PlexCoin raised around 15 million USD from investors as a reaction to what Cyber Unit made. Such move made PlexCoin gain around 1300% of profit in a month.

Related Article: Winter Olympics Hazardous Theft