Hackers took over the official Twitter account of crypto exchange Gate.io, putting over 1 million users at risk of losing funds to an ongoing fraudulent Tether giveaway. Social media platform Twitter serves as the most effective medium to reach the crypto community. As a result, the trend of hacking into official Twitter handles of verified accounts to promote scams is on the rise. Hackers of unknown origin took over Gate.io’s Twitter account and changed the website URL from Gate.io to gąte.com (https://xn--gte-ipa.com/) — a fraudulent website impersonating the exchange. The fake website is actively promoting a fake giveaway of 500,000 USDT while asking users to connect their wallets (such as MetaMask) to claim the rewards. Once a user connects their wallet to the fake website, the hackers will gain access to their existing funds and end up draining the assets. Blockchain investigator Peckshield also confirmed the ongoing attack as it detected the phishing website and alerted users about the risk of losing private keys.
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