Students stole millions of dollars worth of cryptocurrency tokens for Roblox skins

A security expert known as OKHotshot found that since December 2021, at least 900 Discord servers have been compromised for phishing attacks. At the same time, there has been a noticeable increase in fraudulent activity over the past three months of 2023. This is reported by The Block.

According to the expert, at least 32,000 wallets have been affected by hacking over the past nine months. In total, fraudsters stole NFTs and cryptocurrency worth $ 73 million.

Another security expert with the nickname Plam said that approximately 95% of server hackers are children under the age of 18. «I have personally talked to many of them and know that they are still in school. They buy a laptop, several phones, and spend a lot of money on Roblox. All of them mostly play this game,» he said.

Attackers try to cover their tracks by paying users to use their personal data to register on crypto exchanges. The goal is to avoid being caught by law enforcement when withdrawing funds.

Plam said that North Korean hackers, who are also active in NFT phishing, usually use more common «classic» schemes, so their thefts are easier to track. As for schoolchildren, in most cases, they carry out attacks using their own «proprietary» technology.

According to the De. Fi Rekt database, in June 2023 alone, 10 cryptocurrency projects suffered from hacks, exploits, and scams. The largest incident occurred on June 4, when unknown attackers hacked the Atomic crypto wallet and stole assets worth $ 35 million.

In total, fraudsters have stolen $ 76.6 billion over the entire existence of the crypto industry. At the same time, only $ 6.59 billion was recovered.

Earlier, we talked about a large-scale investigation related to massive theft of funds and fraudulent schemes in the online game Roblox. Journalist Luke Winkie discovered a «successful underworld of teenage scammers, hackers, and thieves» in the game. According to the journalist’s research, the scammers communicated on Discord or on thematic forums.