UBITQUITY X phishing scam alert: fake website impersonating Polygon MATIC to POL Migration
By: MJ Phillips (CTO & Advisor), Nathan Wosnack (Founder & CEO)
In the rapidly evolving world of cryptocurrency and Web3, where innovation and technology intersect, security remains a paramount concern for all participants. Unfortunately, the same dynamic environment that fosters growth and drives technological advancements also attracts malicious actors eager to exploit unsuspecting users. A recent phishing scam targeting the Polygon (MATIC) community serves as a stark reminder of the ever-present need for vigilance in this space.
The Legitimate Polygon (MATIC→POL) Blog Page
This site does not require any action on behalf of the user as the MATIC to POL migration happening on September 4th, is automatic. As the legitimate website states, POL replaces MATIC as the native has a staking token for the Polygon PoS (Proof of Stake) network.
The Scam: A Fake Migration Announcement
Scammers have created a fake website that masquerades as an official announcement from Polygon (MATIC), claiming that MATIC is migrating to a new token called POL. The website mimics the look and feel of legitimate platforms, creating a convincing facade that can easily deceive even seasoned users.
Fake site in question:
(Warning: If you are not a security professional, we highly recommend you do not visit this site)
What the Scam Does:
- False Urgency: The fake website claims that users must take immediate action to migrate their MATIC tokens to POL, urging them to connect their cryptocurrency wallets to complete the process.
- Wallet Hijacking: Once a user connects their wallet using WalletConnect, MetaMask, Trust Wallet, Exodus, Coinbase, or any of the 430 other supported wallets, the scam’s malicious JavaScript code goes to work. It hides the mouseover to prevent users from noticing anything suspicious and hijacks the wallet, giving the scammers full access to the funds within.
- No Action Required: It’s crucial to understand that the legitimate Polygon team has not issued any announcements requiring users to migrate their MATIC tokens to POL. The official website clearly states that no action is required on behalf of the user, and any message claiming otherwise should be treated with extreme caution.
How to Protect Yourself
- Verify Information: Always double-check any announcements you receive, especially if they involve sensitive actions like transferring tokens or connecting your wallet. Visit official channels such as the Polygon website, their verified social media accounts, or trusted news outlets for confirmation.
- Inspect URLs: Before interacting with any website, ensure that the URL is legitimate. Scammers often use URLs that are similar to the official ones, with minor variations that can easily go unnoticed.
- Use Security Tools: Consider using browser extensions or tools that can help detect phishing attempts by analyzing URLs and preventing you from visiting known malicious sites.
- Stay Informed: Follow updates from the cryptocurrency projects you invest in. Being informed about official developments can help you quickly identify fake announcements.
- If Still In Doubt: Ask the community if the site is legit or ask the Company that the claim is about.
What to Do If You’ve Been Scammed
If you suspect that you’ve fallen victim to this phishing scam, immediate action is essential:
- Disconnect Your Wallet: If you connected your wallet to the fake site, disconnect it from any applications immediately.
- Move Your Funds: Transfer your assets to a new wallet that has not been compromised.
- Report the Scam: Contact the support team of the wallet you used, and report the incident. Additionally, inform the official Polygon team and relevant authorities to help them track and take down the fake site.
- Seek Professional Help: If you have lost a significant amount of funds, consider reaching out to cybersecurity experts who specialize in cryptocurrency fraud.
-The UBITQUITY X Team
