XWG Re-Opens Marketplace After Malicious Contract and Phishing Issues

XWG Games reopens its marketplace and promises to reimburse victims of a phishing scam.

By
Ahamdi Abarikwu
on
September 12, 2021
Category:
BSC News

XWG Marketplace Restarts

Decentralized cross-chain gaming ecosystem, X World Games reopened its game-play assets' marketplace on September 10th after precautionary measures were taken to protect users. 

The marketplace was temporarily shut down on September 7th after some users interacted with a fake contract address and had their crypto assets stolen. XWG announced the reopening in a tweet on September 10:

"After 3 days of debugging, our marketplace will reopen today! Thank you for your patience!"
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Source

The X World Games token, $XWG has seen little effect so far. The price has followed outward market trends, which have been down for the week of September 5-12. The $XWG token is trading for $0.1082 USD, at the time of writing. The token saw a 24hr total trading volume of just over $500,000, according to CoinMarketCap.


What Went Wrong?

XWG Games gave an insight, in a Medium post on September 8, into how some users got caught up in a phishing attack. According to the post, a fake malicious contract address was showcased in the marketplace as the legitimate XWG market contract:

"Upon investigation, there was a fake contract floating around yesterday in the XWG market.... we recommend users to check and see if there is any permission given to the contract ‘0xC876347E652ba7175ef06B4F80DBe9d886Bc9C23’"

XWG tokens and NFT cards of users who interacted with the fake contract address were stolen. To eliminate the threat of the malicious contract, users were advised to take the following measures:

  • Go to the Unrekt contract permission checking the website to verify if permission has been granted to the fake contract - 0xC876347E652ba7175ef06B4F80DBe9d886Bc9C23 - in the user's wallet.
  • If the fake contract is not in the list of addresses that have permission, then the user is safe. 
  • If the fake contract has permission, click the 'Revoke' button and approve the transaction. This will disconnect the contract and disable its access to the wallet.
  • If prompted again to permit the market contract, check the transaction details to ensure that it is the legitimate XWG market contract that permission is being requested for. The correct XWG market contract address is 0x1ee6539c12361b6bc1fb930435c70d557dee392f

In its tweet, XWG Games reiterated its commitment to help secure users' assets. The platform also promised to compensate those who lost assets during the incident.

Source 

You Can Never Be Too Careful In Crypto-space

There are lots of risks in the blockchain industry and decentralized finance. Criminal elements employ different techniques to try and defraud people of their assets. The type of attack XWG users fell prey to is similar to the dusting attack technique used by crypto criminals. Always cross-check the contract addresses requesting access to your wallets to avoid falling victim to phishing scams.

About XWG Games

X World Games is a cross-chain decentralized play-to-earn gaming ecosystem. Players earn XWG tokens by playing various games. The games feature NFT gameplay characters with exciting features. Players can also create new characters with a variety of appeal and powerful combat attributes.

For more about XWG Games, visit these links:

Website | Medium | Twitter | GitHub | Telegram 

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Ahamdi Abarikwu

Ahamdi Abarikwu is an Electrical Engineer and a lover of anything crypto. He is also an avid writer, proofreader and editor. He loves to play Scrabble in his spare time.

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