Warning! Hackers Targeting NFTs Using the Blur Signature Vulnerability

03/15/2023 22:21 • AI & Tech Insights • 299 views

It is reported that the Web3 security company Pocket Universe issued a warning on social media that hackers may steal NFT by using the Blur signature vulnerability. This scam will use the forged signature request to exhaust the NFT of users’ wallets. Its operation mode is to induce the victim to sign a transaction of “selling NFT in bulk at 0 ETH price”. However, there is always a message in the Blur batch list that is unreadable, As a result, users do not know what they are signing and the message cannot be translated, which will make it easier for hackers to gain access and make it more difficult to identify malicious requests from hackers. Pocket Universe said that it has provided a security solution, that is, to mark transactions that are not from the official Blur website. However, in the first cases, hackers have been found to have stolen 5 ETHs in a signed transaction.

Security companies: hackers or use Blur signature vulnerabilities to steal NFT

Analysis based on this information:

Pocket Universe, a Web3 security company, issued a warning on social media that hackers are targeting Non-Fungible Tokens (NFTs) using the Blur Signature Vulnerability. This scam involves using a forged signature request to exhaust NFTs from users’ wallets. The hackers induce the victim to sign a transaction of “selling NFT in bulk at 0 ETH price,” which seems like a great opportunity to liquidate NFT investments. However, there is always an unreadable message in the Blur batch list, making it easier for hackers to manipulate the transaction process.

This vulnerability poses a significant risk to the safety of NFT investments, and it is imperative to understand how it works. Essentially, whenever users sign such transactions, they do not fully understand what they are agreeing to, making their NFTs more susceptible to theft. This also makes it difficult to identify any malicious requests from hackers, and users may not even know which transactions are legitimate.

Pocket Universe has provided a security solution to this problem. They mark transactions that are not from the official Blur website, which means users can safely avoid potential scams. However, as shown in the example, hackers are already using sophisticated tactics to gain unauthorized access to these transactions, making it essential to be vigilant, and exercise caution.

As NFTs become increasingly valuable and popular, cybercriminals will undoubtedly continue to find new ways to exploit them. This means that the security of these valuable digital assets must be taken seriously. By working together, platforms, investors, and security companies can develop effective and comprehensive mechanisms to prevent hackers from exploiting vulnerabilities and causing losses.

In conclusion, the current situation with NFTs is fragile, and the risks of cyber-attacks cannot be overemphasized. Investors must prioritize security protocols and be mindful of any suspicious transactions before signing them. Security companies must also be proactive in detecting and preventing such scams, as seen in the case of Pocket Universe. A collaborative effort by all stakeholders will ensure that the NFT ecosystem remains secure and sustainable.

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Warning! Hackers Targeting NFTs Using the Blur Signature Vulnerability

Security companies: hackers or use Blur signature vulnerabilities to steal NFT

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