After Launch of W Token Crypto Threats Emerge on Wormhole

Wormhole Faces Threats From Crypto Scammers After Launch of W Token

Recently, the cross-chain protocol Wormhole, set to launch its token, is once again under scrutiny by scammers. Cryptocurrency scammers, hackers, and memecoiners have participated in the large $850 million airdrop of the Wormhole cross-chain bridging platform. Wormhole has become a target for many crypto scammers and hackers. Additionally, the official X account of Wormhole's founder, Robinson Burkey, faced an attack where suspicious wallet drainers posted malicious links after Robinson announced the airdrop.

What Reports Says?

According to reports, hackers involved in the infamous $320 million exploit of the 2022 Wormhole Bridge also participated in the Wormhole airdrop, where an exploiter claimed $50,000 worth of W tokens. A researcher claimed that the Wormhole team forgot to exclude several wallet addresses associated with the exploit, through which hackers stole $321 million in crypto through cross-chain bridges in 2022.

This isn't the first time Wormhole has been targeted by crypto scammers and hackers. In February 2022, the Wormhole bridge was exploited, resulting in a $321 million loss, considered one of the largest hacks in crypto industry history.

It should be noted that the W token of Wormhole was launched yesterday, making it a target for scammers seeking to capitalize on the launch. Following the launch of the Wormhole airdrop, a parody token named Warmhole was launched. Warmhole memecoin rapidly increased from a market cap of around $100,000 to a peak value of $8.3 million, providing a return of 83,000% in less than six hours. However, the credibility of this memecoin is questionable. The success of spoof coins can serve as a warning for the crypto space.

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