Bitcoin Ordinals Marketplace Ordswap Hit With Phishing Attack.

The Bitcoin marketplace, Ordswap, has fallen victim to a phishing attack, raising concerns about the security of cryptocurrency platforms. This incident highlights the ongoing challenges and risks associated with digital asset trading and the need for robust cybersecurity measures.

Bitcoin Ordinals Marketplace Ordswap Hit With Phishing Attack.

Bitcoin Ordinals marketplace Ordswap has temporarily shut down operations after losing control of its official domain. On October 9, the Ordswap team informed users that they were no longer in control of the domain, warning them not to connect to it. The exact cause and scale of the incident have not been disclosed yet, but it is speculated that a web hosting firm called Netlify could be responsible.

Users from the marketplace’s Discord server reported a compromised authorization button on the Ordswap website, which appeared to be part of a phishing attack. This button, known as a “wallet drainer,” is a tool often used by crypto hackers to deceive victims into signing malicious transactions.

In response to the incident, Ordswap has introduced a solution to help users recover their private keys. They have launched an online tool that allows users who accessed the platform using MetaMask to securely transfer their assets to alternative service providers while they work on regaining control of their domain.

Ordswap, launched in 2023, is a trustless marketplace for trading Bitcoin Ordinals. This incident highlights the increasing sophistication of phishing attacks in the cryptocurrency industry. A similar attack occurred on Balancer, an Ethereum-based automated market maker, on September 20, 2023. The attackers used social engineering techniques to target Balancer’s DNS service provider, EuroDNS, and trick users into authorizing a malicious contract that resulted in the theft of around $240,000 in assets.

Fortunately, Balancer was able to resolve the issue and regain control of their domain a few hours later.

Phishing attacks have become a significant concern in the crypto space, with hackers finding new ways to deceive users and gain unauthorized access to their funds. It is crucial for users to exercise caution and only interact with trusted platforms and websites to protect their assets.

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