Loyalist’s Twitter Phishing Scam Results in $4 Million Crypto and NFT Theft

02/16/2023 13:50 • Tech Ticker • 125 views

According to reports, Zach XBT, an online data analyst, said that since the beginning of 2022, Loyalist/Lukas/Shibango has stolen cryptocurrency and NFT worth more than $4 million by running phishing fraud on Twitter and cooperating with other known phishing fraudsters. Zach XBT said that 1741 NFTs were found stolen by Loyalist and 416 independent victims were observed.

ZachXBT: Hacker Loyalist has stolen more than $4 million of cryptocurrency and NFT since the beginning of 2022

Interpret the above information:

The world of cryptocurrency has seen a massive rise in the last few years, and with it, the rise in crypto thefts and scams. Unfortunately, it seems like the latest victim in this space is the popular social media platform, Twitter. Zach XBT, an online data analyst, recently reported that a group of cybercriminals, led by an individual named Loyalist – also known as Lukas and Shibango- has been running a phishing scam on Twitter to steal cryptocurrency and NFTs worth over $4 million.

Phishing scams are becoming increasingly common in the crypto world. The scammer will craft an email or message that looks legitimate and send it to an unsuspecting person, typically through a popular platform like Twitter. These messages are designed to trick people into sharing their login credentials, which the scammer then uses to access their cryptocurrency wallets and steal their funds.

According to Zach XBT, Loyalist and his team have been active since the beginning of 2022, targeting Twitter users with fake giveaways and prize draws that promised cryptocurrency and NFTs. The victims were required to provide personal details, including their account passwords and private keys, which the scammers used to gain access to the user’s wallet. So far, 416 independent victims have been identified, with 1741 NFTs stolen.

This news highlights the danger of phishing scams and the need for tighter security measures in the crypto space. As crypto becomes more mainstream, regulators and companies need to work together to create better security mechanisms to protect users.

In conclusion, Loyalist’s phishing scam on Twitter has resulted in the theft of cryptocurrency and NFTs worth more than $4 million. The scam is a reminder to all crypto holders to stay vigilant in protecting their assets, and to be wary of any unsolicited messages asking for personal details.

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