Claim Bonuskirilm.eth Falls Victim To Phishing, Loses 180 Mln BEAM
Highlights
- An address related to Covex Finance recently fell victim to a phishing scam.
- The phishing scam resulted in the loss of nearly $5 million worth of BEAM.
- BEAM price drops nearly 10%.
In an exhilarating twist of events, LookOnChain recently revealed that Kirill.eth, an address linked to Convex Finance, fell victim to a phishing scam yesterday, February 15, resulting in the loss of 180.25 million BEAM, the native cryptocurrency of the Beam network. Intriguingly, this appears to be falling in line with the recent plunge witnessed by the BEAM token, nabbing significant attention among crypto market enthusiasts.
Meanwhile, the derivatives data for the token also signaled a downtrend for BEAM in the market. This appears to have birthed a tidal wave of speculations for the cryptocurrency’s run ahead.
Phishing Scam Births Price Slump
According to the data revealed by Lookonchain, the address ‘kirilm.eth’ lost BEAM worth $5.14 million, garnering noteworthy interest. Notably, the scammer promptly sold the acquired BEAM for 1,629 ETH, causing the price to take a bearish turn within the market. The data showcased by LookOnChain illustrated a 7% drop in the token’s price following the scammer’s selling of BEAM, propelling bearish thoughts on the token.
Additionally, the data offered by Coinglass further mirrored this sentiment, portraying a 10.47% plunge in the token’s open interest. The price fall, coinciding with the open interest drop, signals a downtrend within the market. However, a jump noted in the volume, as per Coinglass’ data, hints that the market might be ready to enter a consolidation phase.
Meanwhile, Trading View’s data confirmed that the plunge followed the phishing scam and selling of BEAM for ETH.
Also Read: Cathie Wood Ark Offloads $31M Coinbase Shares Post-Earnings As Price Hit 2-Yr High
BEAM Price Drops
As of writing, the beam price noted a drop of 9.34% over the past 24 hours and is currently trading at $0.02675. The substantial drop showcased by the token comes primarily as a result of the token’s phishing scam. Moreover, the price chart continued a downward momentum even after the scam, birthing sentiments for a bearish movement ahead.
Also Read: Crypto Options Expiry Sparks Optimism Amid Chinese New Year Rebound
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Will Bitcoin Crash Again as ‘Trump Insider’ Whale Dumps 6,599 BTC
- XRP News: Ripple’s RLUSD Gets Boost as CFTC Expands Approved Tokenized Collateral
- Crypto Markets Brace as Another Partial U.S. Government Shutdown Looms Next Week
- $40B Bitcoin Airdrop Error: Bithumb to Reimburse Customer Losses After BTC Crash To $55k
- ETH Price Fears Major Crash As Trend Research Deposits $1.8B Ethereum to Binance
- Cardano Price Prediction as Midnight Token Soars 15%
- Bitcoin and XRP Price Outlook Ahead of Crypto Market Bill Nearing Key Phase on Feb 10th
- Bitcoin Price Prediction as Funding Rate Tumbles Ahead of $2.1B Options Expiry
- Ethereum Price Outlook as Vitalik Buterin Sells $14 Million Worth of ETH: What’s Next for Ether?
- Solana Price at Risk of Crashing Below $50 as Crypto Fear and Greed Index Plunges to 5
- Pi Network Price Prediction Ahead of PI KYC Validator Reward System Launch
