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Scammers Stealing Crypto Using Fake Solana Wallet Security Update

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Nonfungible tokens (NFTs) have been airdropped to Solana cryptocurrency users over the past two weeks under the guise of a new Phantom wallet security update by anonymous hackers. Instead of an update, it’s malware intended to steal their cryptocurrency.

According to BleepingComputer, the hackers are posing as members of the Phantom team and are employing NFTS named UPDATEPHANTOM.COM or PHANTOMUPDATE.COM.

After opening the NFT, customers are informed that a new security update for the Phantom wallet has been published and may be downloaded by using the enclosed link or the mentioned URL.

To stress the need of downloading the false security update, the notification says that failure to do so “may result in a loss of assets due to hackers targeting the Solana network.”

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