Crypto Phishing: Damages Increased by 215 Percent Over the Year

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI


  1. Phishing Damages Increased Over the Year
  2. More Sophisticated Phishing Methods
  3. The Need to Verify Websites

  4. The number of phishing attacks in the crypto sector continues to grow, especially with the introduction of new sophisticated methods used by scammers. Users are losing substantial amounts, emphasizing the need to be more vigilant when using the internet.

    Phishing Damages Increased Over the Year

    According to Web3 security company Scam Sniffer, the damage from crypto phishing attacks has significantly increased over the past year. In August, more than 9,100 victims lost about $63 million, a 215 percent increase from the previous month. While the number of victims decreased by 34 percent compared to July, the amount of stolen funds surged.

    In August, about 9,145 victims lost around $63 million due to crypto phishing scams. Although the number of victims decreased by 34 percent compared to July, the amount of stolen funds increased by 215 percent.None

    More Sophisticated Phishing Methods

    The methods used in phishing attacks are becoming more sophisticated. One common technique is 'punycode', where characters similar to Latin letters are replaced with characters from other alphabets, such as Cyrillic. This makes the URLs of fake sites look very similar to the real ones. For example, scammers used this method to create a fake version of the CoinDesk site.

    Phishing in the TON ecosystem is on the rise. Due to the characteristics of the Telegram ecosystem, many phishing links (or in the form of bots) are spread through message groups, airdrops, and other fraud methods to steal assets.Yu Xian, founder of security company SlowMist

    The Need to Verify Websites

    It is important to always be cautious when visiting websites. Never enter personal information or connect your crypto wallets without verifying the authenticity of the site. One way to protect yourself is to carefully check URLs and avoid suspicious links from emails and messages. Scam Sniffer recommends that users be vigilant, especially when using digital wallets or online banking.

    With the increasing damage from phishing attacks, internet users should heighten their vigilance and carefully verify the authenticity of websites, especially when it comes to financial transactions. This will help prevent the theft of funds and personal data.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Arca Desktop App Now Open to Public for AI Session Monetization

The Arca desktop app has launched to the public, allowing users to monetize their AI session data.

user avatarJacob Williams

Exodus Reports Third-Quarter Revenue Growth Amid Net Loss

Exodus reported a 7% revenue increase in Q3, reaching $325 million, but faced a net loss of $83 million, highlighting rising operational costs.

user avatarZainab Kamara

eToro Reports Decline in Third-Quarter Net Income Amid Growing Funded Accounts

eToro reports a significant decline in third-quarter net income to approximately $15 million, down from $57 million last year, despite an 18% growth in funded accounts.

user avatarSon Min-ho

Bitdeer Achieves Record Revenue but Faces Major Losses

Bitdeer reported record revenue of $320.7 million for Q3 2023, an 89% increase year-over-year, but faced a net loss of $125.5 million.

user avatarAyman Ben Youssef

Bitcoin May Benefit from Greater Regulatory Clarity

Bitcoin may benefit from a more predictable US regulatory environment as the SEC shows interest in blockchain-based financial infrastructure.

user avatarKofi Adjeman

SEC Reports Significant Decline in Enforcement Actions

The US Securities and Exchange Commission (SEC) has reported a significant decline in enforcement actions, marking the lowest level since 1991, under the Trump administration.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.