• Layerswap's area, layerswap.io, was hijacked and a phishing rip-off resulted in a lack of $100,000.
• Regardless of the delay, Layerswap took again management, promising a full refund and providing a ten% bonus.
• Cryptocurrency fraud stays prevalent, inflicting losses of $46.86 million in February 2024 alone.

On March twentieth, at roughly 7:40 PM UTC, Layerswap's area, layerswap.io, suffered a major safety breach.

A malicious attacker compromised Layerswap's GoDaddy account, modified the area's DNS settings, and redirected visitors to a phishing website.

Regardless of the fast response, roughly 50 customers fell prey to the rip-off and misplaced a mixed $100,000 in belongings.

Layerswap has recovered your area

Regardless of the delay, Layerswap was capable of regain entry to the GoDaddy account by 11:07 PM (UTC), revert the hacker's modifications, and regain management of the area.

The corporate took the proactive step of providing full refunds to affected customers and an extra 10% as compensation for the inconvenience brought on by the safety breach.

11:07 PM: I can lastly log in. #godaddy account.

11:15 PM: Instantly reset nameservers, modified passwords on all accounts, and up to date 2FA settings.

11:40 PM: DNS modifications are absolutely propagated and management is regained over the area.

12:00am:…

— Layer swap (@layerswap) March 21, 2024

Rip-off Sniffer Insights on Cryptocurrency Scammers

In line with Rip-off Sniffer, scams precipitated vital losses of $46.86 million in cryptocurrencies in February 2024, and greater than 57,000 folks fell sufferer to numerous phishing scams.

Notably, in comparison with January 2024, there was a 75% lower in victims who misplaced greater than $1 million. Regardless of efforts to fight fraud, vulnerabilities nonetheless exist, as seen within the latest ParaSwap incident by which hackers cashed out roughly $24,000 price of funds.

The layer swap incident serves as a stark reminder of the persistent risk posed by cybercriminals to the cryptocurrency area.

Whereas Layerswap’s fast response and dedication to refunding affected customers is commendable, it highlights the necessity for elevated safety measures and consumer consciousness inside the cryptocurrency neighborhood.