Layerswap hack: $100k misplaced, customers to be absolutely refunded

• Layerswap’s area, layerswap.io, was hijacked, resulting in a phishing rip-off and $100,000 loss.
• Regardless of delays, Layerswap regained management, pledged full refunds, and supplied a ten% bonus.
• Crypto scams stay prevalent, with $46.86 million misplaced in February 2024 alone.

On March twentieth, round 7:40 PM UTC, Layerswap’s area, layerswap.io, fell sufferer to a major safety breach.

Malicious actors compromised Layerswap’s GoDaddy account, altering the area’s DNS settings, and redirecting site visitors to a phishing website.

Regardless of swift motion, round 50 customers fell prey to the rip-off, collectively shedding $100,000 in property.

Layerswap has recovered the area

Regardless of encountering delays, Layerswap regained entry to their GoDaddy account by 11:07 PM UTC, enabling them to reverse the hacker’s modifications and regain management of their area.

The corporate has taken proactive measures, absolutely refunding affected customers and providing an extra 10% as compensation for the inconvenience attributable to the safety breach.

11:07 PM: We lastly regained the power to log into our #GoDaddy account.

11:15 PM: We instantly reset the identify servers, modified all account passwords, and up to date 2FA settings.

11:40 PM: DNS adjustments have been absolutely propagated restoring our management over the area.

12:00 AM:…

— Layerswap (@layerswap) March 21, 2024

Rip-off Sniffer’s insights on crypto scammers

In line with Rip-off Sniffer, February 2024 witnessed vital losses of $46.86 million in cryptocurrencies resulting from scams, with over 57,000 people falling sufferer to numerous phishing schemes.

Notably, there was a 75% lower in victims shedding over $1 million in comparison with January 2024. Regardless of efforts to fight scams, vulnerabilities persist, as seen in ParaSwap’s current incident, the place a hacker managed to money out funds price roughly $24,000.

The Layerswap incident serves as a stark reminder of the persistent menace posed by cybercriminals within the cryptocurrency house.

Whereas Layerswap’s swift response and dedication to refund affected customers are commendable, it underscores the necessity for enhanced safety measures and person consciousness throughout the crypto neighborhood.