Crypto-Sec: Protecting Yourself from the Latest Crypto Scams and Exploits
A new AI scam is targeting XRP holders, featuring an artificial intelligence-generated video of Ripple co-founder Chris Larsen. The video, published on an unlisted page on YouTube, promises XRP holders the opportunity to double their current holdings. However, the video is likely a scam, as viewers are urged to visit a website and send their funds to an XRP Ledger address, resulting in permanent loss of their funds.
AI-generated scam videos have become a growing issue in the crypto space. Previously, scammers used AI-generated videos of Elon Musk to deceive victims. However, it seems they have now turned to other well-known figures in the cryptocurrency industry, such as Chris Larsen.
In another scam incident, a trader lost over $300,000 worth of memecoin MicroStrategy 2100 (MSTR2100) to a phishing attack. The trader had made significant unrealized gains, but fell victim to a phishing scam and unknowingly transferred their coins to the attacker’s account. The attack highlights the importance of carefully inspecting transactions to avoid falling prey to phishing scams.
In a separate incident, hackers breached Internet Archive’s servers and stole data associated with 31 million user accounts. The stolen data includes email addresses and encrypted passwords. Users affected by the breach may be targeted with phishing attempts, and the attackers could potentially crack the stolen password hashes, gaining access to users’ plaintext passwords. Internet Archive has required users to change their passwords to mitigate the risk.
Password breaches like this pose a significant threat to crypto users and web users in general. The web industry is working on transitioning from traditional passwords to passkeys based on public-private cryptography, similar to a cryptocurrency wallet. However, this transition is still in its early stages.
In light of the increasing number of crypto scams and exploits, it is crucial for users to remain vigilant and take necessary precautions to protect their funds and personal information. Avoid clicking on suspicious links, carefully inspect transactions before confirming them, and consider using password managers to secure passwords. By staying informed and proactive, users can minimize their risk of falling victim to these scams.