• Tapio Finance’s Discord server has been compromised by hackers posting the link to a phishing site on the platform.
• CertiKAlert first announced the news of the security breach and Tapio Finance has confirmed it.
• Impersonation scams have been on the rise in 2023 and KuCoin users lost over $22,000 worth of crypto to bad actors after participating in a scam scheme posted on its Twitter handle.
Tapio Finance’s Discord Server Compromised
Tapio Finance, a synthetic asset protocol in Ethereum (ETH) ecosystem, is the latest decentralized finance (defi) protocol to get targeted by bad actors. The hackers posted a link to a phishing site on Tapio’s Discord server, which was first reported by blockchain security and analytics platform CertiKAlert earlier today. The Tapio team has urged users to not click any links until they regain control of their server.
Impact of Security Breach
Some users have already been impacted by the security breach, losing unspecified amounts of crypto to the bad actors. The incident highlights how impersonation scams have been on an all-time high in 2023 as Chainalysis‘ mid-year report for web3 ecosystem revealed that such scams accounted for a large chunk of fraudulent activities during this period. Another example is KuCoin, where its users lost over $22000 worth of crypto after participating in a scam scheme posted on its Twitter handle.
Warnings For Users
The Tapio team has warned users from clicking any links until they regain control of their server. It is also important for other web3 platforms to stay vigilant against such attacks because these kind of incidents can be detrimental to their reputation and user trust if not handled properly.
Security Against Phishing Scams
It is essential for exchanges and wallet services to implement two-factor authentication (2FA) or other similar measures that can help protect user funds from getting stolen due to phishing schemes or other cyber frauds. Moreover, users should also take extra precaution when interacting with links online and never share private keys with anyone else under any circumstances as it could lead them into being victims of malicious activities like these types of scams.
Conclusion
In conclusion, it is important for both exchanges/wallet services as well as individual crypto holders/investors to remain alert about phishing scams online and take necessary steps towards protecting their funds from getting stolen due to such malicious activities perpetrated by hackers or scammers .