Cryptocurrency startup BeeToken hacked, loses $1M worth of Ethereum, users advised to avoid phishing email

A new report conveys that hackers have breached the email list of a Cryptocurrency startup BeeToken, and gotten away with over $1 million worth of Ethereum. The cybercriminals have been targeting their Initial Coin Offering (ICO) with phishing attacks.  BeeToken is a decentralized home sharing network.

The company used their official Twitter and Medium accounts to confirm the incident, and issued a guide to their users to avoid emails or Telegram messages which directly urges them to send funds. They flagged such message as scam.

BeekToken Medium post reads:

The Bee Token has received reports of fake emails, Telegram accounts, etc. claiming to represent the Bee Token ICO Token Generation Event. Please note that we will NEVER EVER communicate an Ethereum address through an email or Direct Message to you via Telegram.

One of the reasons the hackers were successful in carrying out the attack was because the phishing exercise were launched alongside the official launch of BeeToken ICO. Due to the popularity and overwhelming publicity of cryptocurrency and blockchain, this kind of attacks may possibly occur again. It may be now or in the future.

Below is a screenshot of phishing messages shared by users:

What do you think? Over to you.

Via TheNextWeb

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