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Bee Token ICO Hacked: Scammers Take Over Telegram and E-mail List and Stole Over $1 Million in Ethereum

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Bee Token ICO was launched on Wednesday, attracting many investors who wanted to fund the ‘beenest’. This is a platform that is commission-free and is a home-sharing, which is meant to disrupt the industry dominated by Airbnb and VRBO.

Thousands of these investors did not know that there was an email- and Telegram-based phishing scam that targeted them. Bee Token has not taken this lightly. It has spent a considerable amount of effort warning the ICO contributors to ignore direct communications alleging that they are from the company. The clients are being advised to verify their addresses directly on the Company’ official website.

Even with the warning in place, the scammers have been able to divert almost $1 million away from the ICO into their own safes. The real ICO, as at now, has raised $2.8 million. Social media has been rife with speculations as to why the scammers were very successful in their attack. It is alleged that they must have gained access to the company’s mailing list from an insider.

Their speculation is based on a Gmail trick that allows users to insert a tag into their email address while subscribing to a mailing list. In case they receive an email from a mailing list they did not subscribe to, they use this tag to identify from the sender where that sender received their contact form.  

Although Bee Token had not responded to this allegation, it is clear that the scammers must have found their way to the mailing list that they used to send spam emails and telegram messages.  


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