Flare Networks, a leading altcoin backed by Ripple, found itself at the center of a security breach on one of its Discord channels. The breach included unauthorized access by hackers targeting users with a false promise of airdrop. Despite prompt handling of the incident, deletion of offensive content and regaining control over the affected Discord channel, this breach serves as a call for caution for Flare Networks and its community. It leads to a stern warning against falling victim to similar scams in the future. Here are the details…
Hack alert for popular altcoin
cryptocoin.com As we reported, Blockchain protocol Flare Networks, powered by Ripple, recently fell victim to a security breach at one of its Discord addresses. The exploit involved hackers gaining access to the channel and posting phishing messages about a fake airdrop in an attempt to trick users. Flare Networks took immediate action and deleted the offender and the fake messages. He has since regained full control of his Discord channel. This incident marks the first recorded threat for the Flare Network since its mainnet was launched a few months ago. As a result, the protocol now warns its community to be wary of suspicious announcements that sound too good to be true.
The discord icon on the website says that it's expired. Please post a new discord invite link here and on the website. Thanks. I was kicked after I posted warnings as it was hitting the fan… slomo style.
— DarthToe (@darth_toe) June 1, 2023
In its official announcement, Flare Networks emphasized that it will never make such announcements or request personal or security information from users. The protocol advises community members to verify information through various Flare channels, including Telegram, Twitter, Discord, and the website blog, before taking any action. The hackers chose to capitalize on the popularity of airdrops as Flare ran several airdrop campaigns featuring the native token FLR.
FLR experienced a slight decline
This event had an impact on the FLR token and the trust Flare Networks is building within its community. Currently, the FLR token is trading at $0.02291 and has dropped 5.46 percent in the past 24 hours. This drop in price is also impacted by the token’s weekly performance as it has dropped more than 13 percent over the course of the week. Exploits are not uncommon in the crypto industry, with notable examples such as Morgan Stanley impersonator Morgan DF Fintoch, who scammed users for over $31 million.
Despite this security hazard, Flare Networks says it is committed to maintaining the trust of its community. He points out that he will continue his efforts to improve security measures. This event serves as a reminder to users to be careful.
