Discovering the Orbiter Finance Phishing Scam

On April 18th, according to PeckShield monitoring, orbiter [.] finance is a phishing website and not the official website of Orbiter Finance. In the past 4 hours, scammers have stolen approximately 38.4 ETH from approximately 50 victims and exchanged these ETHs for 79800 USDTs.

PeckShield: orbiter [.] finance is a phishing website where scammers have stolen approximately 38.4 ETHs

Today’s technological innovations have paved the way for a more convenient and efficient way of conducting financial transactions. Unfortunately, this has also given rise to various fraudulent activities such as phishing scams. One such incident happened recently, where scammers were able to steal a significant amount of cryptocurrency from unsuspecting victims.

What is the Orbiter Finance Phishing Scam?

On April 18th, the cybersecurity monitoring company PeckShield discovered a phishing website posing as the official portal of Orbiter Finance. The site, orbiter[.]finance, was made to mirror the real website to deceive users into thinking it was legitimate. However, the site was actually set up by scammers to steal cryptocurrency from those who entered their credentials.
Within the first four hours of the website’s operation, scammers were able to steal around 38.4 ETH from roughly 50 victims. They then exchanged these stolen funds for 79800 USDT on various crypto exchanges. The real Orbiter team has already posted a warning on their official website, alerting users to the fraudulent portal and advising them to stay vigilant.

How Did the Attackers Operate?

Based on reports, it seems that the attackers used various strategies to lure users into the phishing site. They used social media platforms such as Twitter and Telegram to advertise their fraudulent website, and even went as far as creating a bogus airdrop event to stir up excitement among potential victims.
One of the most common tactics of phishing scams is offering huge rewards or incentives in exchange for access to personal data or funds. In the case of Orbiter Finance, the scammers promised a reward of 1,000 USDT for being the first to vote for their project.
The phishing website’s design was also carefully crafted to appear as an official Orbiter Finance website. The URL was only slightly altered from the real site, and the page’s overall aesthetic and layout were similar. The attackers even created bogus profiles of Orbiter Finance team members to add more legitimacy to their site.

How Can We Protect Ourselves from Phishing Scams?

Preventing phishing scams is a continuous battle, but there are several things that users can do to keep themselves safe. Firstly, always double-check the URL of any website you visit, especially when it comes to financial transactions. Verify that the site is legitimate and that the URL is spelled correctly.
Secondly, be cautious when clicking on links or opening attachments from unknown sources. Phishing scams often use emails or messages that appear to be from a legitimate source, but actually contain malware that allows attackers to gain access to your personal information.
Lastly, keep your devices and software up to date with the latest security updates. Install antivirus software and keep it up to date as well.

Conclusion

Phishing scams are a constant threat to our online security. Incidents like the Orbiter Finance phishing scam remind us to always stay vigilant and aware of the risks. By following basic cybersecurity practices such as verifying URLs, avoiding suspicious emails or messages, and keeping our devices secure, we can reduce the likelihood of falling victim to such attacks.

FAQs

Q1. What is phishing?
A1. Phishing is a type of cyber fraud that targets personal information such as login credentials, financial data, or other personal information by disguising as a trustworthy entity in an electronic communication.
Q2. How do I know if a website is legitimate or a phishing site?
A2. It can be hard to spot a phishing site, but some clues include spelling errors in the URL or website design that looks unprofessional.
Q3. Can antivirus software protect me from phishing scams?
A3. Antivirus software may detect known phishing websites and block access to it. However, avoiding phishing scams ultimately falls on the user’s ability to identify and avoid such scams.