Flare Networks, the blockchain system powered by Ripple, disclosed that it has experienced an attack on one of its Discord addresses overnight in what might be considered a somewhat innocuous security breach. The hackers got access to the channel, as revealed by the protocol, and while it was live, they posted a number of phishing messages about a false airdrop in an effort to entice unwary victims.
The Discord channel has been fully restored, according to the protocol, which said it has erased the offender and all uploaded messages. The Flare Network should be regarded as having recorded its first compromise since launching its mainnet a few months ago with this recorded compromise.
Flare is now cautioning its members to beware of fraudulent announcements that could be too good to be true in light of its experience.
The statement states, “Flare will never ask for your personal information or security data or make announcements of this kind. Before acting, we advise confirming information on a number of Flare channels, including as Telegram, Twitter, Discord, and the website blog.
Because Flare has been conducting a number of airdrop campaigns utilising its native token, FLR, it has become relatively simple for the offenders to utilise airdrops as bait.
Impact on Flare token
The FLR token looks to be suffering as a result of the most recent exploit attempt, despite the fact that Flare Network has worked hard to earn the confidence of its community over the course of the past year.
As of this writing, the value of the virtual currency has dropped by 5.46% over the last 24 hours and is currently trading at $0.02291. The digital currency’s weekly growth, which has decreased by more than 13% week to far, has a significant impact on the present price decline.
In the field of cryptocurrencies, exploits are prevalent. One well-known example is the Morgan Stanley impostor Morgan DF Fintoch, who defrauded its users of more than $31 million.
