Less than 2 hours result in a loss of $1.28 million due to crypto phishing attacks
In just under two hours, victims of a recent phishing crypto attack have suffered a total loss of $1.28 million. The alarming increase in these scams has caught the attention of cybersecurity experts, leading to the release of anti-web3 scam alerts like Scam Sniffer, which aims to inform the crypto community about the latest attacks.
During the investigation, it was discovered that one user fell victim to a phishing attack yesterday, resulting in the loss of $787,242 worth of $BEAM tokens. Additionally, another victim lost $389,154 worth of $STONE tokens within a few hours. These cases highlight the severity of the dangers associated with crypto trading as phishing attacks become more prevalent.
The Phishing Report provided by Scam Sniffer in February revealed that 57,000 victims suffered losses of nearly $47 million in just one month due to these phishing scams. Although the number of victims reporting losses of over a million dollars decreased by 75% compared to January, the threat remains significant.
The Ethereum mainnet has become a prime target for phishing attacks, accounting for over 78% of the total theft volume. Specifically, 86% of the stolen funds are Ethereum tokens, particularly ERC20 tokens. Hackers commonly use well-known phishing signatures like allow, seed, bounty, permit, IncreaseAllowance, and Uniswap Permit2 to gain unauthorized access to victims’ assets.
Cybercriminals often employ Twitter impersonation tactics, taking advantage of evasion techniques to deceive users. Phishing websites created by impersonated Twitter accounts with false identities have been used to exploit users’ trust in social media, leading them to become victims. Other scam techniques involve wallet drainers, which involve manipulated or replicated wallets and approver tokens, making it easier for criminals to carry out phishing attacks.
The significant increase in phishing attacks puts users at risk of losing their digital assets. Recent reports indicate that $104 million in crypto was lost to phishing in the first two months of this year alone. It is crucial for users to remain vigilant at all times and implement comprehensive security measures to protect themselves from falling victim to phishing schemes.