This Vitalik Buterin-backed altcoin has received a fraud warning!

Blockchain security firms have reported suspicious activity on the Discord account of Metis, the Tier-2 network supported by Ethereal inventor Vitalik Buterin. Users of the altcoin project have been warned of potential malicious activity on the account, such as phishing scams. As users continue to advocate for security, this adds to the list of phishing and security breaches among web3 companies.

Metis Discord Breach, Altcoin Project Warns Users!

Ethereum Layer 2 Network Half-breed suffered a breach on its Discord account. The incident was reported by security firms Blockahin and users who noticed suspicious activity. In response to the incident, the altcoin project warned users not to interact with airdrop links to avoid losses:

URGENT: Metis Discord has been compromised, do not click on any “Airdrop link” or any other link. Stay safe while our team fixes this issue. Thank you.

After a while, Half-breed made a new announcement that the issue had been resolved. He released the following statement on his social media account:

We have identified and fixed the last issue. A spam bot was sending many fake airdrop links to our channels, but we have cleaned it up and disabled the necessary channel settings. Thanks to our noble community for their quick action in reporting. Remember to always monitor links sent to the group or your DMs. If in doubt, ask a public Half-breed moderator to ask for help.

Increase in phishing scams and cyber attacks

This incident has been added to the growing list of dangers on Web3 this year. Although initial reactions from the community were mixed, many praised them for their quick response. Some users, however, pointed out that the response was rather late, as they had noticed it some time ago. Despite this, the sentiment was generally positive, as future losses were averted.

As you followed from Kriptokoin.comThe number of phishing scams has increased recently as cryptocurrency adoption has increased globally. Malicious actors continue to hack popular social media accounts on web3 and similar platforms. Scammers post fake links, often as community favors, to attract users. Interacting with these links often results in asset loss and broader implications.

Cryptocurrency Scams Drain Market Sentiment

Cryptocurrency scams have skyrocketed recently, influencing market sentiments. Various aspects, including phishing, bridge and platform attacks, and crashes, have caused the overall market to plunge into the jungle for long periods of time. An example of this is the implosion of FTX and the collapse of the Terra stablecoin. Cryptocurrency scams are also shaping the regulatory direction of authorities. Anti-market lawmakers advocate for tighter and more restrictive regulations for cryptocurrency firms. Pro-market commentators, on the other hand, argue that tighter regulation stifles innovation and drives investment to other jurisdictions.

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