Fake Aptos (APT) tokens, which can be deposited on Upbit, South Korea’s largest stock exchange, were traded as if they were real, causing chaos.
There was an unprecedented fraud attempt on Upbit. First on-chain analysis firm Definalist by fake APTs produced by a fake airdrop site, according to the incident noticed deposited to Upbit It created a short-term chaos.
These fake tokens, which were transferred to Upbit and imitated real APT tokens, were traded as real ones for a short time, and some users received fake tokens that had no value. made a profit. From the site in question An average of 50 copies were sent to more than 380 thousand Aptos wallets. While it was thought that the problem was caused by tokens, this fraudulent token was soon noticed by the Upbit team.
Temporarily APT deposit And Do not Pull The team stopped the operations and intervened in the incident before the problem gets bigger reached the solution and restarted the operations. Definalist claimed that a vulnerability in the source code caused the fake token to be traded like real APT tokens for a while.
bot service provider Tuna_Botco-founder of MingMingBBS In his statement to Definalist, he argued that according to standard protocols, certain controls should distinguish tokens, but in the case of Upbit, this was not the case.
“We came back from the brink of disaster”
On the other hand, it was stated that this fraud attempt could create a disaster. Thousands of users in a possible decimal equivalence 25 thousand dollars Stating that it may lose valuable assets, Definalist continued his statement with the following statements:
Luckily, in the midst of this misfortune, the scammer’s token had 6 decimals while the real APT had 8 decimals, thus preventing a major disaster. If the decimal point of the scam token was 8, all users would receive $25,000 instead of $250, resulting in thousands of users losing $25,000 worth of APT and causing significant disruption
Upbit demanded refunds to users who sold fake APTs and made money in return. APT deposits and withdrawals will be processed shortly after the incident is resolved. activated.
Mobility in APT price
APT price drops as scammers send thousands of fake tokens to Upbit cryptocurrency exchange 35% in Bybit gained value over .
According to CoinGecko data, in parallel with the fraud attempt, the APT price increased by approximately like 0.5% After a small loss in value, it started to rise suddenly. In the last 24 hours 7.5% rising APT, at the time of writing from $5.53 finds buyers. Aptos on Upbit in the last 24 hours Trading pair with the highest volume It was recorded as.