Phishing Alert! Users Lost More Than $173,000 Due to Permit Phishing Signatures

Bittime - Via Twitter account Scam Sniffer reported an alarming incident involvingpermission signature phishing . According to their monitoring data, a victim lost a large amount of cryptocurrency, worth $173,446, just two hours ago on May 24, 2024.

Permit Phishing Signature: Target Potensial Phishing

A permission signature or Permit Phishing Signature is a mechanism used in some blockchain protocols to authorize transactions without interacting directly with the blockchain itself. While intended to simplify the user experience, it can be exploited by phishers.

Source: @RealScamSniffer/X

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How Permission Signature Phishing Works

Phishing scams usually involve tricking users into visiting malicious websites disguised as legitimate platforms. In the case of signature phishing, the website may ask users to sign a transaction that looks harmless but actually gives the attacker access to steal their crypto assets.

Protect Yourself from Permit Phishing Signatures

Here are some steps you can take to avoid becoming a victim of phishing:

• Be wary of unknown websites: Only interact with trusted platforms and double-check URLs before signing any transactions.
• Review transaction details carefully: Always carefully review the details of any transaction you are asked to sign, including the amount, recipient address and destination.
• Never sign something under pressure: Don't feel rushed into signing something you don't fully understand. Take your time and make sure you are comfortable with the transaction before proceeding.

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Raising Awareness for Security

By raising awareness about permission signature phishing scams, we can help protect users and their crypto holdings. If you suspect that you may be a victim, it is important to act quickly. Report the incident to the platform you use and consider contacting a security professional for further assistance.

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How to Buy Crypto from Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

What is Spear Phishing and How to Avoid It

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Scam Sniffer: New Phishing Danger Warning with the Use of Uniswap V3 Multicall Contracts

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.