In the fast-paced world of cryptocurrencies, security remains a top concern. Unfortunately, the decentralized and relatively anonymous nature of the crypto market attracts malicious actors who seek to exploit vulnerable platforms and deceive unsuspecting users. In this blog post, we will explore some recent hacking incidents that have taken place in the past 24 hours, shedding light on the ever-evolving landscape of crypto scams.

1. SwirlLend’s Rugpull on Base:
SwirlLend, a project on Base, became a victim of a rugpull, leaving its Total Value Locked (TVL) significantly depleted. The TVL plummeted from $784.3K to $49.2K. The project’s social platforms have been deleted, and the scammer has bridged approximately $289.5K worth of cryptocurrencies, including 140.68 ETH and 32.6K USDC, from Base to Ethereum. The scammer still holds around 92 ETH on Base.

2. SwirlLend’s Rugpull on Linea:
In a double blow to the SwirlLend project, scammers also struck on Linea. Approximately 94 ETH from Linea has been bridged to Ethereum via Orbiter Finance: Bridge. The stolen funds are currently being transferred from Base to Ethereum. As of now, the scammer’s Ethereum address holds 165.6 ETH and 32,641 USDC.

3. Circulating Fake CIRCLE Token:
A large liquidity removal has been detected on a fake CIRCLE token. The BSC address associated with the scam gained 900 BNB (approximately $216.3K) from a honeypot and subsequently moved 400 BNB through TornadoCash. Furthermore, the deployer deposited an additional 400 BNB into TornadoCash, totaling 800 BNB.

4. Fake PepeCoin Airdrop:
Beware of a fake PepeCoin airdrop promotions spreading on social media platforms. This fraudulent scheme urges users to interact with a website called hxxps://pepecoin-claim.online/. It is important to note that this site is known to drain wallets and should be avoided at all costs.

The recent hacking incidents highlight the ongoing need for caution and diligence when engaging with the crypto market. It is crucial for users to conduct thorough research before investing in any project or participating in airdrops. Utilizing trusted platforms and exercising skepticism towards suspicious websites can help mitigate the risk of falling victim to scams. As the crypto market continues to evolve, staying informed and maintaining a strong security mindset remain essential for every crypto enthusiast.