JPEG’d, the decentralized lending protocol on Ethereum, has issued a warning regarding phishing attacks towards its community members. As per the warning, it is said that the target of the phishing attacks are the users who hold the tokens, and crypto and DeFi operators. This alert came after they received many complaints from their community regarding the presence of multiple phishing campaigns and the redirecting to a further malicious revocation tool.
Generally, such services are working to clear out all the previous access that was granted to the decentralized applications by the web3 users. Now the phishing attacks and the malicious bad actors are posing as genuine services that happen to be a new update from the JPEG’d itself. The warning has been to save the community from any of these kinds of attacks and campaigns to make sure that the transaction is secure before they grant any approval which can drain out all NFTs and other digital assets in their wallets.
With this protocol in the Ethereum blockchain, the NFT holders can open collateralized debt positions (CDPs) using their own NFT as collateral. The users can also obtain leverage on the NFTs by minting PUSd, and pETH.
JPEG’s bridges the gap between DeFi and NFTs. it asks users to unlock the value of their NFTs with JPEG’d, where you can get instant liquidity and earn yield.
What Does The JPEG’d Alert Say?
The information from the protocol was published as a public post dated October 30, 2023. The content of the post read that it has come to the attention of JPEG’d that scammers were targeting $JPEG holders with a claim of having approvals, which in reality happens to be false ones. The post continued that these false approvals were on phishing contracts and linked these to a further malicious revocation tool. It also said that as of now the name that these party/parties undergo is “Trojansec”.
The post appeared on the official X account, previously known as Twitter, of JPEG. it also asked the users to not make any kind of interactions with these parties or make any contracts that the users are unsure of.
It also suggested that if the users have any doubt regarding the $JPEG, $pETH, or $PUSd, there should be no hesitations to reach out to the JPEG’d team via Discord or Telegram. Team JPEG’d also said that they will try their best to reply to the queries as soon as possible. The post ended by asking the community to stay safe and “weenis” with the emoji of a lighted cigarette.
It also had the JPEG’d discord link. The official account of JPEG’d with a blue tick mark and the username JPEGd_69 is listed as a science and technology account in X.
Previous Phishing Attacks Towards Crypto And De-Fi
Recently multiple phishing attacks have been targeting crypto users and De-Fi participants.
Some others who suffered similar attacks are:
- Attack on Curve Finance, an on-chain stable swap exchange, that stole approximately 100 million US dollars. Some of these funds were recovered.
- Trezor, a crypto hardware wallet creator, became the target of a recent phishing campaign
- Friend. Tech. a SocialFi app to monetize or expertise, faced Google search manipulation attacks which led to its investors having to lose about 4.5 million US dollars to a phishing scam.
- Rapper Nelly was also in the news as the social media accounts associated with the rapper were compromised.