Forward the original title: Title: How to Prevent Extreme Malice from Various MEME Tools? (Essential Reading for Gold Hunting Dogs)

Earlier this year, the meteoric rise of PEPE, WIF, and Bome, alongside the disappointing performance of altcoins with high FDV in the secondary market, has ignited the meme market. Many investors have turned their backs on VC altcoins, abandoning the so-called “narrative” and opting for direct gambling instead! The tales of quick wealth from these memes have drawn significant attention from investors and led to the emergence of numerous automated trading tools—meme bots. While these bots claim to help users make profits through automation, they come with serious security risks. Although these “automated trading tools” may seem impressive, the vulnerabilities and traps they hide are incredibly intricate! These attacks are designed to steal your wallet, assets, and even your trust.

Witnessing several fans lose everything is truly disheartening and serves as a reminder: nothing comes for free, especially when you’re eager to get rich overnight. Experienced investors are often the most susceptible to deception. Below are real-life cases from fans; please take five minutes to read carefully. Understanding these attack methods is crucial to avoid losing hundreds of thousands or even millions.

3 Case Analysis

Case 1: Phishing Attack via Fake Group Verification in Meme Groups

Background:

A fan encountered a verification prompt when trying to join a meme TG group. Eager to join the community, they clicked through the verification without paying much attention. Unfortunately, it was a request for a mobile verification code. After entering the code, their TG account was accessed, and assets worth $66,200 were swiftly transferred out. This is a classic phishing attack disguised as a bot verification, and many newcomers fell for it without thinking.

Our investigation revealed that the verification prompt led to a phishing website. The attacker tricked users with a fake verification message to steal wallet assets authorized for TG transactions. Not only were assets stolen, but the attacker also targeted the victim’s friends using similar tactics. We have identified dozens of victims so far and are awaiting police documentation.

Vulnerability analysis:

This incident highlights the risks of phishing attacks, especially on platforms without proper oversight. Attackers can obtain user wallet permissions and steal assets using counterfeit applications and malicious plugins.

Identification Tips:

• Be cautious of “verification messages”: If you see a request for a verification code, especially a mobile one, when joining a group chat or using a meme bot, it’s likely a phishing attempt. Legitimate bots do not require verification in this manner.
• Verify the source of the verification: Phishing often involves fake messages that trick you into providing verification codes or sensitive information. Always confirm whether the request is from an official platform or seems suspicious.
• Check URLs and contact information: Attackers often use fake websites or bogus bot links to collect user information. Always verify the URL and group information before clicking on unfamiliar links.

Prevention Tips:

• Avoid filling out verification codes indiscriminately: When faced with a verification request, take a moment to confirm the legitimacy of the platform before entering any codes.
• Secure your TG account: Enable two-factor authentication to protect against unauthorized access. Be cautious about granting unfamiliar bots access to your account.
• Stay vigilant: Be wary of any “urgent” or “quick entry” prompts, particularly during moments of FOMO. Keep calm and think critically.

Case 2: Asset Loss Due to Meme Bot API Vulnerabilities

Background:

Last month, Alec reached out for help recovering his assets. He’s an experienced investor familiar with the market and had been using multiple bots until he tried one called “AutBot,” which claimed to perform automated arbitrage trading based on market fluctuations. Following community recommendations, Alec invested 106 ETH into this platform and allowed AutBot to trade on his behalf.

What happened:

After two weeks, Alec noticed no significant change in his account balance but didn’t think much of it. During a routine check, he discovered abnormal transactions—trades executed by Aut*Bot that didn’t align with his strategy. This led to the transfer of ETH from his account to a hacker’s wallet. Further investigation revealed that the bot’s API had vulnerabilities, allowing attackers to manipulate trades through forged API requests. The hacker exploited this flaw, manipulating market prices to extract 96 ETH.

Losses:

Ultimately, Alec lost over 100 ETH. We attempted to recover the funds through the platform, but the API vulnerability was not addressed in time, and the platform has yet to take corrective action. We are still in discussions with the bot’s developers.

Vulnerability Analysis:

This situation exposed significant flaws in Aut*Bot’s API design. The API did not adequately verify trading requests, and the data was not encrypted, enabling attackers to bypass authentication.

Identification Tips:

• Ensure API security: While you may not be an API expert, a bot lacking user verification or data encryption is like a door without a lock. If someone has basic technical skills, they can easily gain access. Always check if the platform has security certifications, like two-factor authentication.
• Monitor your trading activity: If you notice unexplained transactions, such as an unchanged balance but unusual trading activity, this could indicate issues with the bot or hacking. Regularly review your transaction history for any irregularities.

Prevention Tips:

• Use reputable platforms and bots: Opt for well-known bots that have undergone third-party audits and certifications instead of randomly downloading new tools that seem effective. Established bots usually have better security measures in place.
• Enhance account security: Always enable multi-factor authentication when using any trading bot. This adds an extra layer of protection, making it harder for hackers to access your funds even if the bot has vulnerabilities.

Case 3: Attack by a Fake Meme Bot

Background:

Sara is a stolen user who contacted us last week. She once saw an advertisement called “Pro*Bot” on a certain Twitter, claiming that it can automatically buy and sell memes in seconds. Help Users are more efficient when attacking earth dogs. Sara did not conduct sufficient research, so she clicked on the link in the advertisement and entered a seemingly legitimate website, as well as a TG bot.

What happened:

On the website, Sara was prompted to connect her wallet and authorize transactions. The site featured a Chrome extension called “Pro*Bot,” which claimed that users could monitor and trade in real-time after installation. However, after she entered her mnemonic phrase, Sara quickly realized that $760,000 worth of ETH had been transferred from her wallet to an unknown account.

Our investigation revealed that the website was a phishing site. The attacker deceived users into downloading a malicious extension disguised as “Pro*Bot,” which prompted them to enter their private keys, or to input their private keys into a TG bot, thus stealing the assets from the authorized wallets.

Vulnerability Analysis:

This incident highlights the dangers of phishing attacks, particularly on platforms that lack proper oversight. Attackers were able to gain access to user wallet permissions and steal assets through fake applications and malicious plugins.

Identification Tips:

• Carefully check the URL: Be cautious with links from social media or advertisements. Links that look similar to the official websites of crypto platforms or tools may have subtle differences (like spelling errors or altered URL prefixes). Always paste the URL into your browser to verify it matches the official site, or use Google to confirm the site’s legitimacy.
• Be wary of “easy money” promises: Phishing sites often use phrases like “get rich quick” or “automatically earn profits” to lure you in. If a tool claims “zero risk” or “no investment” required, it’s likely a scam. Remember, there’s no such thing as a free lunch; any legitimate project should clearly outline its risks and potential returns.

Prevention Tips:

• Avoid downloading plugins or applications casually: Only download software or extensions from official sources (like the official website or App Store). Steer clear of any unverified software or plugins, especially those that promise quick rewards, as they often contain phishing traps.
• Never enter your mnemonic phrase lightly: Any request for your mnemonic phrase is a scam! Never input your mnemonic phrase without careful consideration.

LianYuan Technology specializes in blockchain security. Our main services include blockchain security research, on-chain data analysis, and the recovery of assets and contracts from vulnerabilities. We have successfully helped individuals and institutions recover stolen digital assets. Additionally, we provide project security analysis reports, on-chain tracing, and technical consulting/support services to industry organizations.

Thank you for reading. We will continue to focus on and share important information regarding blockchain security.

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