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nft protocol JPEG alerted community members about malicious actors targeting holders of its token as phishing scammers continue to target cryptocurrency and DeFi operators.
P2P non-fungible token (nft) lending platform JPEG posted an advisory on X following numerous complaints from users citing phishing campaigns and a booby-trapped revocation tool. These services are typically employed by web3 users to remove access previously granted to decentralized applications.
Bad actors launched a series of malicious platforms that imitated genuine services based on the JPEG update. The goal is to ensure approval of transactions before depleting NFTs and digital assets in the wallet.
Several phishing efforts have targeted cryptocurrency participants and decentralized finance users. As crypto.news reported, hard wallet maker Trezor became the target of a new phishing campaign. Social media accounts linked to rapper Nelly were also compromised.
Viral app SocialFi Friend.tech reported that it suffered Google search manipulation attacks and investors lost $4.5 million in USDT due to a phishing scam.
JPEG’s watchdog call comes months after hackers attacked on-chain stablecoin exchange Curve Finance, stealing nearly $100 million from multiple protocols and liquidity providers. Some of the funds were recovered by white hat hackers and a collaborative DeFi helpline labeled SEAL 911 was formed.
