Nefarious characters have wandered the earth from the beginning of time. The police, and other security forces were created to resist them but regardless of how humans try, these guys never stop popping up.
These criminals' sole purpose is to take advantage of unsuspecting victims and inevitably pull a scam on them.
The internet space is rife with scammers that use all sorts of tricks to steal from their victims.
Everyone has probably heard of the "Nigerian Prince" scam that's overflogged by the media in both serious and light-hearted situations. That notwithstanding, it is just one of many ways that these criminals' use to steal funds from their victims.
Despite the high level of security in crypto space, these sort of attacks are also quite common. The blockchain provides a cryptographically secure place to store and move funds, however, the open ledger and whatnot leaves it open to the fraudulent activities of scammers.
The latest projects to be attacked by these fraudsters are two stalwarts of the Binance Smart Chain DeFi family.
Watch out for this scam message
At the time of writing, it has been confirmed that both Pancake swap and Cream finance have both been attacked by the hackers.
By attacking the network, these scammers can create 3rd party dapps that can simply take the private keys you send to them. Typically, your funds get wiped out and all you'll be left with is your deflated pride and balls.
DNS attack
A DNS attack is an exploit in which an attacker takes advantage of vulnerabilities in the domain name system (DNS)
For what it's worth,users funds are safu, for as long as they don't input their private keys in that pop up above or any other sketchy looking thing that may appear.
Not the first time
This isn't the first time crypto has been threatened by scammers. The new technology that Automated Market Makers employ in these immensely successful DeFi platforms have attracted the uglies to the table.
Recall that at the beginning of the Wleo pool on Uniswap, there was an attack that led to printing an absurd amount of Leo. Leofinance was quick to correct the problem and that turned out to be a lesson learned.
This situation with Binance Smart Chain doesn't look good for the entire ecosystem but DNS compromises are things we've sort of accepted as a regular threat in crypto space.
https://twitter.com/bscscan/status/1370721643723517954?s=19
- bscscan
How I see it, only something of value is worth attacking. So while the haters and scammers spend their time in there secret labs trying to steal from good people, their efforts will only lead to an even safer and secure space for crypto to thrive.
Until all is safe, avoid using those two DeFi platforms. Also, don't panic, stay frosty, and never give anyone your keys.
