Scammers Steal Over $1 Million Worth of Ethereum From Bee Token ICO Participants

itman · Feb 3, 2018

Proof that targeted phishing attacks are still extremely profitable.

Hundreds of users fell victims to email scams over the past week, sending over $1 million worth of Ethereum to a scammer who sent fake emails posing as the Bee Token ICO (Initial Coin Offering).

The Bee Token ICO started on January 31 and ended on February 2, when the Bee team shut down the ICO after raising the $5 million they wanted to build their product, a blockchain-based house rental application, a-la Airbnb.

Not Bee's fault. Users fell to a basic email scam.

During the time the Bee Token ICO was going on, a scammer was sending emails posing as the Bee team and urging users who wanted to buy Bee Tokens to send Ethereum to wallets under his control.

The Bee team became aware of this issue pretty soon into its ICO, and sent out three security alerts [1, 2, 3], informed people that the ICO was taking place via its website alone, and even created a Google Form to allow users to report scams.

Despite the constant alerts from the Bee team, people kept falling for the fake emails, which were sent from addresses like: "ico.beetoken.421837378324190333.crowd.ico@fortumo.com."
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https://www.bleepingcomputer.com/ne...-of-ethereum-from-bee-token-ico-participants/

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Scammers Steal Over $1 Million Worth of Ethereum From Bee Token ICO Participants

itman Registered Member

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Scammers Steal Over $1 Million Worth of Ethereum From Bee Token ICO Participants

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