😢 Phishing Attack Drains $600k

Plus: ETH ETF delayed by the SEC while a US Air Force Analyst is Arrested in NFT scam

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Est. read time: 4 minutes

Prices go down, FUD goes up… Happy Thursday 🙄 

Let’s digest:

1. Mailer Lite Phishing Attack Drains $600k from Crypto Users

2. ETH ETF Decision Delayed by SEC

3. U.S. Air Force Analyst Arrested in NFT Fraud Case

📈 MARKETS

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Market Flash

📰 TODAY’S TOP STORY

Mailer Lite Phishing Attack Drains $600,000 from Crypto Users

Mailer Lite

A recent phishing attack targeting Mailer Lite, a widely used digital marketing platform, has resulted in significant financial loss, with over $600,000 stolen from users.

Blockaid, a firm specializing in web3 security and privacy, revealed that an exploiter leveraged a vulnerability in Mailer Lite to send deceptive emails that appeared to originate from reputable crypto firms…

  • The hacker posed as crypto news outlets such as CoinTelegraph, and inserted links to wallet drainer sites

  • The attacker employed a technique involving 'dangling DNS' records, meaning they used outdated domains from CoinTelegraph to appear as the news outlet

Multiple platforms other than CoinTelegraph fell victim to this attack including WalletConnect, Token Terminal, and De.Fi.

Unfortunately, reporting on hacks and scams in crypto has become far too normal for us…

This incident underscores the importance of vigilance in the digital and crypto domains, where users are often targeted by sophisticated phishing schemes.

This serves as a reminder to always

  • Verify the authenticity of any communications involving crypto companies

  • be cautious with unknown links and websites

  • Keep your assets safe in a cold wallet

Stay safe out there Nifty Nesters!

Go Deeper: 10 Ways to Keep Your Crypto Safe

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 🏦 ETF

ETH ETF Decision Delayed by SEC

The SEC has extended its review period for BlackRock's proposed spot Ethereum ETF, dubbed the iShares Ethereum Trust, setting a new deadline of March 10 for its decision.

This move allows the SEC additional time to thoroughly evaluate the proposal and address any emerging issues.

  • BlackRock initiated this application process in November, signaling a growing interest in cryptocurrency-based financial products.

  • Fidelity's application for its Ethereum Fund has also experienced a delay, reflecting the cautious approach the SEC is taking with cryptocurrency ETFs.

  • James Seyffart, an ETF analyst at Bloomberg, anticipates that delays will recur in the coming months, with the next significant date being May 23.

Despite recent approvals of spot bitcoin ETFs, the future of a spot ETH ETF is unclear.

As the crypto market awaits the SEC's decision, this shows the regulatory complexities and caution surrounding the integration of crypto into mainstream financial products.

SCAM

US Air Force Analyst Arrested in NFT Fraud Case

Air Force

Devin Alan Rhoden, a cyber analyst with the U.S. Air Force, has been arrested in connection with an NFT fraud case, according to recent court filings.

Rhoden is accused of a rug pull involving the sale of UndeadApes NFTs, falsely inflating their value by claiming a collaboration with the Stoned Ape Crew, a well-known NFT collective.

Rhoden, known as 'Deviinz' on Discord, promoted these NFTs to an Air Force veteran, leading to a false perception of their worth.

  • When Stoned Ape Crew denied any collaboration, the value of the UndeadApes NFTs plummeted, rendering the NFTs worthless.

  • Rhoden withdrew $80,000 from his Coinbase account in April 2022, which authorities suspect to be predominantly from criminal activities.

  • Rhoden and his wife also purchased a residence in Florida for $300,000, with bank statements from this transaction being used as evidence in the fraud case.

In an interview with the Air Force Office of Special Investigations, he denied any fraudulent activities, claiming only to have marketed his services to NFT developers via Discord.

Currently released on a $20,000 bond, Rhoden awaits his court hearing, facing serious allegations in a case that highlights the potential for fraud within the burgeoning NFT market.

Non-fungible News

💡 INSIGHT

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