Cloudflare-Style Phishing Scam Hits Meme Coin Traders for $600,000

A wave of phishing scams is targeting meme coin traders on platforms like Axiom, with at least one victim reporting losses of around $600,000. The scheme involves fake Cloudflare verification pages that trick users into running malicious scripts on their computers.

Unlike typical wallet-draining scams, this attack doesn't require users to approve a blockchain transaction - instead, it asks them to execute an administrator-level script on Windows. This can drain a computer's crypto holdings in a single step.

The phishing links are embedded in the metadata fields that traders check while researching new tokens, making it harder for victims to spot the scam.

Experts warn that users should be cautious and close any suspicious Cloudflare-style verification pages immediately, rather than following their instructions.