- ETH accounted for more than three-quarters of the losses.
- Microstrategy’s X-account hack remained a major talking point.
In February 2018, hackers stole almost $47,000,000 through crypto phishing schemes. The majority of victims fell victim to bogus X accounts (formerly Twitter).
Web3 is a platform that helps to protect you from scams Scam SnifferThe number of victims has risen by 40% in the last month.
The overall loss in the attacks fell by 14%.
Ethereum and ERC-20 have the worst losses
Leading decentralized financial (DeFi), chain Ethereum [ETH] Layer-2 (L2) networks accounted for over three quarters of losses. Arbitrum [ARB] With a market share of 7,4%.
It was not surprising that 86% of stolen assets were ERC20 Tokens.
Fake accounts deceive users
This report highlights the extensive damage done by fake social media profiles.
Scam Sniffer published a screenshot highlighting the way phishers tricked users to believe they were X account holders of major cryptocurrency projects.
Phishing is one of the oldest cybercrimes. It involves posing as an official entity to obtain sensitive data from users who are unaware.
Trickery in the crypto world is used to obtain users’ private key. They are then used by hackers to drain wallets.
A growing threat
Scam Sniffer Previous reported losses of almost $300 million in 2023 due to crypto phishing frauds. Over 320,000 users were victims of such fraud campaigns in 2018.
A new method of enticing the user to click has recently emerged. “airdrop claim” links. Links to wallet draining sites.
Prominent Bitcoin [BTC] The account MicroStrategy was X whale MicroStrategy hacked Last month, I posted a link to a fake airdrop.
Token Terminal, a leading Web3 company at the time of its launch in 2003, was able to offer email services. compromised It can also be used for sending airdrop claims links. The loss of money from both incidents was substantial.
Scammers use sophisticated methods to mimic the original entities. Look out for errors such as typos and content misalignment.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com