Gamma Strategies, an Ethereum-based asset management protocol, is currently probing a security breach that might have led to the loss of at least 211.9 Ethereum.
Blockchain analysis firm PeckShield uncovered a flaw on January 4, potentially impacting around $469,000 worth of assets tied to Gamma Strategies. Following this discovery, the DeFi protocol acknowledged the likelihood of a security issue but confirmed that users were still able to withdraw funds as necessary.
Gamma has not yet responded to inquiries from Cointelegraph regarding the incident. The company has, however, announced on X (previously known as Twitter) their intention to disclose further details after completing their investigation. Amidst this situation, Cointelegraph observed that a false X account, masquerading as Gamma, has been misleading investors. This imposter account is directing investors to a phishing site while falsely advising them to "revoke all approvals to avert fund loss," as shown in the image below.
The fraudulent post garnered more attention in terms of likes and views than Gamma's own update on the security issue. Until the investigation reaches its conclusion, investors are being cautioned to meticulously verify all links and interact with Gamma exclusively through verified channels.
