Web3 platforms are secure, but users must be watchful for risks. As such, the advancement in technology necessitates the need for increased cybersecurity measures. However, due to cybersecurity deficiency and a data breach, users of Nansen, a blockchain analytics platform for crypto investors, have fallen victim to scams.

Nansen provides its users with data for on-chain wallets. The company’s activities help discover opportunities and protect their portfolios with real-time alerts. So, it’s ironic that such a platform could be susceptible to a scam attack. This has caused an alertness in the crypto community. So, crypto enthusiasts should be watchful and wary of scam activities during this period.

The Scam Event

About a week ago, on the 23rd of November, scammers pretending to be Nansen representatives initiated a phishing scheme. These scammers poised as Nansen officials sent out emails to users containing a false invitation to an exclusive airdrop. They used the fake airdrop to lure unsuspecting individuals to participate in a non-existent program.

Who wouldn’t want to earn free tokens? In the email, the scammers claimed that the airdrop would carry on for two days and would be first come, first served. So, they urged potential victims to click the link in the mail to participate.

Those with knowledge of phishing attacks will know that the link is inauthentic and will redirect those who click on it to malicious websites. However, anyone with well-honed observational skills would have detected a red flag as the email address from which the emails came near no semblance to Nansen’s email address.

Therefore, this highlights the importance of attentiveness to detail in digital activities. Luckily, the crypto officer’s notes, Aka Officercia, drew attention to the scam phishing attack. Regardless, the question of how the scammers obtained the users’ email addresses still stands.

Nansen Data Breach

Before the phishing attack, in September 2023, Nansen experienced a data breach that affected 6.8# of users. This breach resulted in the exposure of user information, including their email addresses and password hashes. Nansen reported that this data breach resulted from compromising a third-party vendor's system.

Though the analytics platform failed to disclose the vendor, they emailed affected users advising them to change their passwords. The corporation promised to investigate and communicate transparently with its users in its public report.

Users suspect this data breach is how the scammers got their email addresses. In light of recent events, they have failed with the promise of transparent communication as they have yet to make a statement regarding the phishing attack.

How To Detect and Prevent Phishing Attacks

Such an attack is a crucial matter that deserves attention as it puts users at great risk. Therefore, phishing attacks are a blockchain vulnerability that calls for cybersecurity countermeasures. But there are things you can also do to keep safe. So, below are six tips to detect and prevent phishing scams.

Always check the email sender and confirm their legitimacy.
Check for misspellings or slight differences in domain names. Analyze the URL. Those beginning with HTTPS are more secure than those with HTTP.
Check for typographical errors in messages and emails you receive.
Don’t fill in your information on random websites, especially those you’re redirected to.
Be wary of tempting rewards that seem too good to be true.
If you suspect a phishing attack, send a report to Phishtank.

So, you need to note that blockchain systems are still susceptible to security attacks. Hence, you should always be cautious and watchful so as not to fall prey to scam attacks.