Founder of PSYOP Pledges Full Refunds to Ethereum Users Hit by Phishing Scam
Ben.eth, the founder of the popular cryptocurrency PSYOP, found himself at the center of a controversy when he unintentionally quote-tweeted a phishing scam that resulted in significant losses for Ethereum users. Ben.eth, however, has taken responsibility for the incident and pledged to refund all victims who fell prey to the scam.
The incident unfolded on May 26 when renowned musician Steve Aoki’s Twitter account was compromised by hackers. The attackers used the compromised account to spread a phishing scam masquerading as an airdrop for the PSYOP memecoin. Unfortunately, this led to losses amounting to approximately $170,000 for unsuspecting individuals who were exposed to the fraudulent link.
Upon discovering the scam, victims approached on-chain investigator Zachxbt, who wasted no time in alerting Ben.eth about the situation. Ben.eth acted swiftly, deleting the tweet to prevent further losses and began making efforts to rectify the situation.
Taking to Twitter, Ben.eth expressed his shock, claiming that he was completely unaware that Steve Aoki’s account had been hacked. He exclaimed, “I DID NOT KNOW AOKI WAS HACKED. HOW COULD I?” Steve Aoki himself has yet to make a public statement regarding the incident.
I WILL BE REPLACING THE ETH THAT WAS LOST IN THIS HACK TO THE AFFECTED USERS.
I DID NOT KNOW AOKI WAS HACKED. HOW COULD I? MY TWEET WAS DELETED AS SOON AS I KNEW.!
IF YOU LOST ETH IN THIS HACK, PLEASE EMAIL [email protected]. $PSYOP! https://t.co/UgB6R9BMkb
— ben.eth (@eth_ben) May 26, 2023
Speculation arose regarding the motives behind the hack, with Ben.eth suggesting that disgruntled investors who missed out on the PSYOP presale may have orchestrated the attack in an attempt to recoup their unrealized gains. However, these claims were made without providing any substantial evidence, leaving the true motives behind the hack unclear.
Zachxbt’s investigation into the incident revealed that the majority of the stolen funds were moved to an unknown wallet. However, a portion of the stolen ETH was traced back to an address associated with a previous attack, specifically the andy8052 sim swap and swatting attack.
In an attempt to make amends, Ben.eth has promised to refund all victims who can provide evidence of their losses. He has asked victims to reach out via email and confirm the theft of their funds, demonstrating his commitment to addressing the situation responsibly.
As the cryptocurrency community grapples with the ramifications of this phishing scam, it serves as a reminder of the ever-present risks associated with digital assets. It is crucial for users to remain vigilant, exercise caution when interacting with social media accounts, and verify the authenticity of any links or offers before taking any action.
The incident also raises concerns about the security of high-profile individuals’ social media accounts and highlights the need for improved cybersecurity measures across various platforms.
While Ben.eth’s promise to refund the victims is a step in the right direction, the incident underscores the importance of implementing stronger security practices and educating users to protect themselves from scams and fraudulent activities in the cryptocurrency space.
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