Non-Fungible Tokens | Breaking Cybersecurity News | The Hacker News

The U.S. Federal Bureau of Investigation (FBI) is warning about cyber crooks masquerading as legitimate non-fungible token (NFT) developers to steal cryptocurrency and other digital assets from unsuspecting users. In these fraudulent schemes, criminals either obtain direct access to NFT developer social media accounts or create look-alike accounts to promote "exclusive" new NFT releases, often employing misleading advertising campaigns that create a sense of urgency to pull them off. "Links provided in these announcements are phishing links directing victims to a spoofed website that appears to be a legitimate extension of a particular NFT project," the FBI  said  in an advisory last week. The replica websites urge potential targets to connect their cryptocurrency wallets and purchase the NFT, only for the threat actors to siphon the funds and NFTs to wallets under their control. "Contents stolen from victims' wallets are often processed through a ser...

Malicious actors took advantage of a smart contract upgrade process in the OpenSea NFT marketplace to carry out a  phishing attack  against 17 of its users that resulted in the theft of virtual assets worth about $1.7 million. NFTs , short for non-fungible tokens, are digital tokens that act like certificates of authenticity for, and in some cases represent ownership of, assets that range from expensive illustrations to collectibles and physical goods. The opportunistic social engineering scam  swindled the users  by using the same email from OpenSea notifying users about the upgrade, with the copycat email redirecting the victims to a lookalike webpage, prompting them to sign a seemingly legitimate transaction, only to steal all the NFTs in one go. "By signing the transaction, an atomicMatch_ request would be sent to the attacker contract," Check Point researchers  explained . "From there, the atomicMatch_ would be forwarded to the OpenSea contract," leadi...

It's time once again to pay our respects to the once-famous cybersecurity solutions whose usefulness died in the past year. The cybercriminal world collectively mourns the loss of these solutions and the easy access they provide to victim organizations. These solutions, though celebrated in their prime, succumbed to the twin forces of time and advancing threats. Much like a tribute to celebrities lost in the past year, this article will look back at a few of cybersecurity's brightest stars that went dark in the past year.  1. Legacy Multi-Factor Authentication (MFA) Cause of Death: Compromised by sophisticated phishing, man-in-the-middle (MitM), SIM-swapping, and MFA prompt bombing attacks. The superstar of access security for more than twenty years, legacy MFA solutions enjoyed broad adoption followed by almost-universal responsibility for cybersecurity failures leading to successful ransomware attacks. These outdated solutions relied heavily on SMS or email-based codes o...