American rapper Nelly's Twitter account, X, has reportedly fallen victim to hackers attempting to lure crypto investors into phishing schemes.

This incident comes amidst an observed surge in crypto hack attacks, resulting in over $700 million being stolen in the third quarter of 2023 alone.

In the past 18 days, almost $700k has been lost in phishing schemes.

Nellio X Account's Phishing Allegations

According to reports, the Nellio X account has been implicated in enticing individuals into a phishing site.

The user behind the account purports to be an on-chain security analyst, specialised in assisting people in identifying genuine scammers.

The hacker contacted users, providing an 'Etherscan' link to the user's wallet address, asking,

"Is this your wallet by any chance?"

Given the account's purported association with @realscamSniffer, a Web3 security website, users assumed Nellio to be a security analyst.

Expressing caution, users voiced their concerns about hacks and unauthorised access.

The hacker purported to be examining recent cases of wallet breaches and compromises, highlighting an apparent issue with the authorisation of spWETH from the user's wallet.

Allegedly, Nellio mentioned obtaining the user's information from Scamsniffer.

As could be seen from the X post, Nellio instructed the user,

"It's a full signature revoke, it removes a couple of others while it's removing a malicious one, they bundle the malicious approvals in with legitimate ones so you need to revoke the full chain."

Zack XBT first discovered the phishing scheme and shared it on Telegram.

Meanwhile, Scam Sniffer, the alleged source of information mentioned by the hackers, denied any affiliation with @NellioETH.

Nelly's Crypto Enthusiasm

The rapper has been actively involved in the cryptocurrency ecosystem, sharing images and tweets about blockchain and scams.

Notably, Scam Sniffer recently tweeted about an attack resulting in a loss of about 93.24 ETH, equivalent to $145K, which was reposted by the Nelly X account.

Similarly, on 7 October, another individual lost about 299.49 rETH valued at $534K in a crypto phishing scheme, with the tweet posted by Scam Sniffer and subsequently reposted by Nelly.

Crypto Phishing Attacks

Crypto phishing attacks continue to pose a threat within the digital landscape, targeting unsuspecting investors and users.

These attacks are often executed through deceptive emails, fraudulent websites, or even compromised social media accounts, they aim to trick individuals into revealing sensitive information such as private keys or login credentials.