Ordswap, a leading marketplace for Bitcoin Ordinals, has introduced a unique solution for users affected by a recent domain security breach to protect user assets and privacy. On October 10, the Ordswap team shared an online tool via their official Twitter account @OrdswapX to help MetaMask users recover their Ordswap private keys. This move comes after a critical security incident that raised concerns among the cryptocurrency community. Here are the details…
Cryptocurrency platform Ordswap lost control over the domain
The turmoil began on October 9, when Ordswap issued a public warning urging users not to access its websites due to the loss of control over their domains. The blame was placed squarely on Netlify, a web development and hosting firm. During this time, the Ordswap website exhibited suspicious behavior with a button asking users to link their BTC and altcoin wallets. This raised red flags among wary users who suspected this was an attempt to compromise their private keys.
Source for metamask users to obtain key is now available below. You are able to import(hex) to Unisat. https://t.co/oETb7h7sA0 https://t.co/NGaaLiNNwW
— Ordswap (@ordswap) October 10, 2023
One user in particular reported that the button appeared to be a wallet drainer, a nefarious tool used by crypto scammers to siphon funds. At the time of writing, Ordswap’s website was automatically redirecting users to a rival marketplace known as RelayX. Despite the turbulent events, an Ordswap team member reassured users on the project’s Discord server that there was no reported impact on user private keys or assets as a result of the breach. However, caution was urged as the risk remains for users interacting with the compromised website.
The similarity with the Balancer incident is striking
Bitkorn, a member of the Ordswap support team, provided some relief to worried users by emphasizing that user assets were not compromised by the website breach. Although the situation is worrying, it appears to be under control. This incident is similar to the security breach experienced by Balancer, an Ethereum-based automatic market maker, in late September, which we reported as Kriptokoin.com. In this case, the attackers made off with approximately $240,000 worth of funds. Balancer attributed the exploit to a social engineering attack on DNS service provider EuroDNS, which allowed attackers to manipulate prompts and trick users into approving a malicious contract that drained their wallets.
In the fast-paced world of cryptocurrency, security remains paramount. The steps Ordswap took to quickly address the domain security breach and provide a means for affected users to retrieve their private keys are critical. While the investigation into this incident continues, the cryptocurrency community is closely monitoring developments to ensure the safety and security of their investments.
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