Uniswap founder Hayden Adams had a major security scare after hackers took over his Twitter account to promote scams. On July 20, the “Web3 Security Alerts” channel on Telegram notified users of the incident when a tweet came out of the compromised account claiming that the platform’s Permit2 contract had been “affected by an unknown exploit” and users’ tokens were at risk, encouraging them to click on a malicious link.
Although the initial fake tweet was deleted after a brief period of time, several virtually identical tweets quickly spread to Adams’ more than 254,000 followers. Later, users of Twitter could still access many of them. According to the Telegram channel, the creator of Uniswap was also denied access to his Coinbase Wallet and MetaMask accounts.
The official Twitter account of the DEX swiftly reacted and released a public statement that said,” Please do not click on any links. There is no giveaway, airdrop, or bounty. The Protocol has not been hacked or exploited. We will let you know when the issue is resolved.”
Adam’s Twitter account was reinstated as of the time this story was being written. While an official update on the issue is anticipated, it should be noted that Uniswap’s fundamental protocol or its features are unaffected. Users were advised not to follow any links from Hayden’s account during the hacking time, and the team promised to keep them informed of the situation.
Uniswap Incident Brings SIM Fraud To The Fore
Many experts believe that the event was the result of a type of SIM switch hack in which the con artist hijacks the victim’s phone number. To prevent malicious breaches, users should minimize the use of SIM card-based two-factor authentication and instead utilize Google Authenticator, Authy, etc.
Social media identity still faces various hazards, including those related to the hacking of users’ phone numbers, despite the expansion of cybersecurity infrastructure.
In October 2021, Coinbase disclosed that a two-factor authentication compromise resulted in hackers stealing crypto from at least 6,000 clients. In a SIM swap hack, the victim’s phone number is taken over by the perpetrators, who then use it to access the victim’s bank accounts, credit cards, or cryptocurrency accounts.