Forta Newsletter #35

This week in Forta! Investigating Sleepdrops, the new scam discovered by the Forta Community. Diving deep into hard rug pulls, one of crypto’s oldest and most insidious scams. Coindesk explores the thousands of scams detected by Forta. Forta works with Bware and QuickNode to better equip scan node runners.

Investigating sleepdrops, the new scam discovered by the Forta Community. In Sleepdropping, scammers create ERC-20 tokens and send them to users' wallets, making them appear as if they were transferred from a legitimate contract address. This is primarily done to lead users to a phishing URL where the real scam occurs, tricking them into transferring their assets to the scammers. Forta is developing a Sleepdrop bot to identify and flag these tokens, and advises users to be vigilant of airdrops and URLs contained in tokens, even if they seem legitimate. Discover the full breadth of the scam in Forta’s blog.

Get the Forta Newsletter Delivered to Your Inbox

Get UpdatesPlease wait...

Thanks! We'll be in touch!

Oops! Something went wrong, please try again

← Back

Diving deep into hard rug pulls, one of crypto’s oldest and most insidious scams. Forta reveals how rug pull scams have become a growing menace in the DeFi space, causing significant losses for retail investors. The blog provides an in-depth analysis of hard rug pulls, a form of crypto fraud where scammers create new tokens and liquidity pools that have a hard coded backdoor exploit. As a case study, the blog scrutinizes the tactics used by Ordinals Finance, a hard rug pull scheme that led to a reported loss of over $1 million. In the blog, you can learn the history of rug pulls, explore the in-depth case study, and discover red flags to watch out for.

Coindesk explores the thousands of scams detected by Forta. In a new article, Coindesk dives into analysis of Forta’s May Scam Detector findings. In the report, it was revealed that scammers created 7,905 blockchain wallets in May to steal cryptocurrency from users. Among the scams, the “ice phishing” technique was most prevalent, accounting for 55.8% of all attacks by tricking users into signing a malicious transaction giving scammers access to the victim’s wallet. Users are advised to pay close attention to wallet addresses they interact with and leverage the wallets with Forta integration for added security.

Forta works with Bware and QuickNode to better equip scan node runners. In a win for Forta Node runners, the Network is collaborating with Bware Labs and Quicknode to equip RPC users with additional features and discounts. Bware Labs promises to increase speed and SLA scores via their new Blast tool and Forta’s documentation on Bware Labs’ offering can be found here. Quicknode’s solutions are based on providing speed, scalability, and security to its users, Forta’s documentation on Quicknode’s offering can be found here.

Forta Around the Web

- Read Collider Ventures' comprehensive Forta thread
- Attack on the lost DeFi protocol of Atlantis detected by Forta
- Forta experts join the Solidus Labs team to discuss Web3 Investment protection

Get the Forta Newsletter Delivered to Your Inbox

Get UpdatesPlease wait...

Thanks! We'll be in touch!

Oops! Something went wrong, please try again

← Back