Uniswap Under Attack: $8M Lost in ETH as Users Succumb to Phishing

- Over the span of the phishing attack, 7,500 ETH was snatched in NFT positions on the liquidity pool.

- Binance CEO Changpeng “CZ” Zhao, and Uniswap founder Hayden Adams confirm that the “protocol is safe”.

- Uniswap (UNI) is down 6.4% in the last 24 hours.

Uniswap has become the latest victim of a phishing attack, which have become a trademark scheme by crypto hackers in 2022. This time, Uniswap’s V3 liquidity pool (LP) suffered an exploit in which NFT positions worth approximately $8.1 million were illicitly acquired.

Uniswap Users Lose Over $8M Worth of Ethereum in Massive Phishing Attack. #Uniswap #Hacker #ETH

— Gēñïùß→Çryptø

(@Genius_Crypto_) July 12, 2022

To trick the pool provider into signing malicious transactions, the hacker group impersonated Uniswap’s site, successfully looting over 3,278 Ethereum (ETH) tokens, worth around $3,498,740.52 USD at press time price.

It transpired that the phishing scam was part of a wider attack, as pointed out by analyst Harry Denley. According to Denley, the fake airdrop presented by the fraudsters asked Uniswap users sign into MetaMask, thus enabling the enormous amount of 7,500 Ethereum (ETH) to be snatched away, worth approximately $8,017,152.86 USD.

Eventually, the looted ETH was split 100 ways,