Flare Networks, a blockchain protocol backed by Ripple, recently experienced a security compromise on one of its Discord addresses. Hackers gained access to the channel and posted phishing messages about a fake airdrop, attempting to deceive unsuspecting users. Flare Networks promptly deleted the offender and the fraudulent messages, regaining control of the Discord channel. While this incident is the first recorded compromise since the launch of Flare Network’s mainnet a few months ago, it is relatively harmless.
As a response to the breach, Flare Networks issued a warning to its community, advising users to be cautious of fake announcements and urging them to verify information through various Flare channels before taking any action. The protocol emphasized that it would never make such announcements or ask for personal or security details.
🚨ANNOUNCEMENT: Overnight, a compromised Flare team Discord address posted several phishing messages about a fake airdrop.— Flare ☀️ (@FlareNetworks) June 1, 2023
The offending user and messages have now been deleted, restoring full control over the Discord channel.
Thank you to our partners and community members…
The exploit attempt has had an impact on the FLR token, the native cryptocurrency of Flare Network. As of now, the token is trading at $0.02291, reflecting a 5.46% decline in the past 24 hours. Additionally, the weekly growth of the FLR token has dropped by over 13% in the week-to-date period, influenced by this security incident.
It’s worth noting that exploits are not uncommon in the cryptocurrency world, with previous examples including the Morgan Stanley impersonator, Morgan DF Fintoch, who scammed users out of over $31 million. Consequently, Flare Networks’ response and recovery measures are vital to maintaining trust and security within its community.
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