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

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

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.