Li.Fi Hack: Project to Compensate Victims, Warns Against Phishing Emails

IconCryptoNewsTerminal Staff23 Jul, 2024

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Li.Fi Hack: Project to Compensate Victims, Warns Against Phishing Emails

A recent hack on the multichain liquidity and data gateway project Li.Fi resulted in the loss of $9.7 million, according to a report by Lookonchain. In response, Li.Fi has announced plans to compensate victims via X. The project also issued a warning regarding phishing emails: "emails spoofing Li.Fi etc. We will never ask you to connect your wallet or click links in emails." The hack highlights the ongoing threat of cyberattacks in the blockchain industry. Li.Fi's swift response and commitment to compensating victims demonstrate the importance of transparency and accountability in the crypto world.

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