Phishing attack victim lost $3,400,000 worth of GMX

A user of the decentralized finance platform GMX fell victim to a phishing attack and lost about $3,400,000 of his funds. Anonymous said that he lost funds in GMX tokens, which was confirmed by the administrator of the group of this platform in Telegram.

The attacker first stole $3,400,000 worth of tokens, after which he immediately exchanged them for more liquid Ethereum, and then sold ETH on the market and “fixed the profit”. The project administration reports that the user became a victim not because of the low level of platform security, but because of his carelessness.

According to the top management of GMX, their level of security is at a high level. Apparently, as in other cases with a phishing attack, the user received a letter to his e-mail from intruders who introduced themselves as the portal administration.

The victim received a link, which was invited by the sender of the letter in order to enter the site and protect their funds by changing the password. When the user went there and entered their login information, the hackers became the owners of the necessary information and carried out the theft.

Recently, such phenomena have become more widespread in the cryptocurrency world. Phishing is a particularly dangerous method of obtaining funds illegally due to the fact that just one wrong step can lead to the loss of all property.

It is for this reason that all professional investors have a golden rule that they use and instruct other members of the cryptocurrency community - diversify your funds in all ways.

In order to avoid this, users should separate all their funds in different ways and keep them in different assets on different platforms, and even better, on hardware wallets.

This incident is not the first to happen recently. Earlier it became known that the hacker stole about $175,000 in NFT tokens. The tool for extracting funds turned out to be the same - a phishing attack. The victim of this attack was Nikhil Gopalani, who is the chief operating officer of RTFKT.

Another user, who followed an unnecessary link and entered his data where it was not needed, lost 4 NFT tokens from the Crypto Punks collection, the total value of which exceeded $330,000.