Markets News Report
October 16, 2023

FrenTechPro Hackers Steal Over 200,000 Crypto Assets Across Seven Chains

FrenTechPro Hackers Pilfer Over 200,000 Crypto Assets Across Seven Chains

Hackers linked to FrenTechPro have reportedly made off with more than 200,000 crypto assets. The massive heist spanned seven prominent chains including Ethereum, BNB Chain, Base, Polygon, Arbitrum, OP Mainnet and Avalanche.

As observed by security monitoring service PeckShield, the malicious actors behind FrenTechPro targeted a diverse set of blockchain platforms. This is a clear indication of their sophistication and knowledge in maneuvering through multiple networks.

FrenTechPro’s Hack Sparks Concerns

PeckShield’s official Twitter account highlighted FrenTechPro’s actions and warned users against its phishing operations, noting that FrenTechPro falsely presents itself as the ‘friendtech X’ account.

This warning was closely preceded by an alert from SlowMist founder, Yu Xian. Xian pinpointed FrenTechPro as a phishing scheme. He highlighted that its strategy urged users to press an “ACTIVATE NOW” button. Once clicked, the system persistently tried to access assets linked to the user’s wallet.

Growing Malicious Activities Within Crypto Community

This is not the first instance of hackers exploiting the trust of unsuspecting users. Phishing scams, like the one perpetrated by FrenTech Pro, are becoming a growing concern in the crypto space.

These scammers disguise themselves as legitimate platforms or services. They manipulate users into inadvertently granting them access or making direct transfers of funds.

AegisWeb3, another cybersecurity firm, had also issued warnings about FrenTechPro. Their report highlighted how the scam deceived users by prompting them to sign transactions, essentially greenlighting transfers from their wallets.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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