A fake website pretending to be the Ethereum Denver conference has been used as a trap to steal Ether. It is a type of digital money. The thieves used a “smart contract” that had already stolen over $300,000 worth of Ether.
Hackers copied the website of the well-known Ethereum Denver conference to trick people into connecting their MetaMask wallets. Blockfence, a security firm, found the fake website. Moreover, In 6 months, the scammer’s “smart contract” stole $300k from 2,800 wallets.
Ethereum Denver sent a Tweet on Twitter to its followers to warn them about the fake website. According to Blockfence CEO Omri Lahav, the phony website prompted users to connect their MetaMask wallets by clicking the “connect wallet” button.
If the user approves the transaction, the smart contract will perform a malicious function and steal their funds. Additionally, Blockfence’s research team discovered the fraudulent activity by monitoring further developments in the industry. According to Omri Lahav, the smart contract that carried out the scam has stolen over 177 ETH since its launch in mid-2022.
Since the smart contract was deployed almost six months ago, it’s possible it was used on other phishing websites.
Fake Ethereum Denver Website Promoted by Google Ads
Moreover, the hackers paid for a Google advertisement to promote the fake website. They hoped to take advantage of the high search traffic leading up to the conference on February 24 and 25. The fraudulent website ranked second on a Google search, higher than Ethereum Denver.
In the cryptocurrency world, hacks and scams are still widespread. Hackers and exploiters stole over $2.8 billion of cryptocurrency through various methods in 2022.
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This article conveys general information, and the opinions expressed should not be considered personal advice for any individual or specific security or investment product.