Web3 is Going Just Great

...and is definitely not an enormous grift that's pouring lighter fluid on our already smoldering planet.

Created by Molly White. Subscribe to her newsletter for weekly recaps.

MailerLite hack enables over $700,000 in crypto phishing thefts

A phishing email appearing to come from WalletConnect: "You're invited! We hope this email finds you well and thriving in the world of decentralized finance! Today, we're thrilled to bring you an exclusive celebration that promises to elevate your crypto experience to new heights. This is not just another airdrop; it's a rare opportunity to amplify your crypto portfolio and be part of something extraordinary. The team at WalletConnect, in collaboration with Web3Inbox, is hosting a special occasion to express our gratitude to our valued users and community members."WalletConnect phishing email (attribution)
After hackers gained access to various accounts on the MailerLite email marketing software via a social engineering attack on an employee, they were able to send malicious phishing emails that appeared as though they had been genuinely sent from companies including the CoinTelegraph crypto media outlet and the crypto firms Wallet Connect, Token Terminal, SocialFi, and De.Fi.

The emails appeared to announce airdrops and exclusive offers from those companies, and recipients were invited to connect their wallets to claim tokens. Those wallets were then drained.

The attackers stole a variety of cryptocurrencies, and some outlets have reported the theft has totalled more than $3.3 million. However, because a substantial amount of that number comes from the illiquid Xbanking token, the actual liquid value of the tokens is likely closer to $700,000. The attackers have begun mixing the stolen funds through the Railgun privacy service.

Theme tags: Hack or scam