Crypto Legend CZ Highlights Recent Hacks on CoinMarketCap, CoinTelegraph

The two websites, CoinMarketCap (CMC) and CoinTelegraph (CT), were both hacked via front-end exploits that enabled hackers to generate pop-ups asking users to connect their wallets. 

CZ’s warning on X noted: “Hackers are targeting information websites now. Be careful when authorizing wallet connect.”

Designed to deceive

The prominent nature of front-end website exploits, where hackers inject malicious code into the part of the webpage that users interact with, meant that both scam attempts were identified early by users. 

On 21 June, users on CMC began to receive a pop-up asking them to verify their wallets. On 23 June, users on CT were exposed to a pop-up promoting a token drop, promising the opportunity to gain 50,000 CGT tokens if they connected their wallets. 

Once users submitted their information, scammers were able to steal crypto and make transactions to move funds to other wallets.

Quick resolutions

After users pointed out the notification, CMC, which is owned by Binance, shared on X: “We’ve identified and removed the malicious code from our site.” In his tweet, CZ, Binance’s former CEO, shared that “there are 39 victims with a combined loss of $18,570. @CoinMarketCap will cover all losses.” 

CoinTelegraph, for its part, initially shared that it was “actively working on a fix.” It later published more information, noting “CoinTelegraph’s banner publishing system was briefly compromised on June 21, resulting in a malicious advertisement promoting a fake token airdrop on our website.” The news site was able to resolve the issue and remove the malicious code.  

Concerns about account security are of course not unique to crypto. In a recent data breach, 16 billion passwords to user accounts for Apple, Google, Facebook and other major platforms were leaked.