294,582 Litecoin (LTC) addresses have been affected by the dusting attack that the network experienced a few days ago. This is according to a recent analysis made by Glassnode, a data metrics firm. At the same time, the company unveiled that there was a similar large-scale attack in April that affected Litecoin.
295,000 Litecoin Addresses Affected By Dusting Attack
According to Glassnode, the recent LTC attack on Binance has affected almost 295,000 addresses. There was also a similar attack back in April this year.
A dusting attack affects the privacy of LTC holders when an attacker sends small amounts of cryptocurrencies to a large number of personal wallets. Once the attacker is able to gather enough information about a specific address and get an idea of who this owner can be, they send a phishing attack to this person.
— glassnode (@glassnode) August 15, 2019
The attack was reported by Binance a few days ago, warning users about being targeted by scammers through email or other means.
During a conversation with CoinTelegraph, the co-founder of Glassnode, Jan Happel, commented:
“The person behind the dusting attack owns a mining pool based out of Russia, EMCD[dot]io. They reached out to express that their intent was to advertise their mining pool to the users of Litecoin, however, it’s unclear from our perspective or anyone else’s as to whether there were alternative motives.”
Litecoin is one of the largest digital currencies in the market in terms of valuation and history. The digital asset has been operating in the space since 2011 and it has been always traded among the top 10 cryptocurrencies around the world. Litecoin is currently the fifth largest cryptocurrency with a market capitalization of $4.82 billion and a price per coin of $76, according to CoinMarketCap.
There has been an increased number of scamming attempts on Twitter. There are some users that share an image of a Tweet of a famous individual in the crypto space saying he is doing a giveaway. These kinds of giveaways do not exist and were just created for newcomers to send funds to a BTC or ETH address.
In the past, Twitter bots were impersonating recognized figures in the crypto market trying to attract users to invest in fake promotions and giveaways. When the market grows, it is always important to be aware of these techniques and methods used by scammers and fraudsters.