Recently, there has been an increase in crypto scams resulting in significant financial losses for users. One of the most notable thefts occurred in August when a trader lost $3.05 million.
How It Happened
The victim engaged in a contract that did not appear harmful but was flagged as a phishing contract on BscScan. The script was identified by ScamSniffer shortly after the transaction. It was shown that the address had already sent over $3 million in USDT to a wallet previously used for malicious activities.
Multiple Incidents Already in August
This is not an isolated case. ScamSniffer documented several phishing attacks in the first week of August: * On August 4, an EIP-7702 upgraded address lost $66,000 in an attack disguised as Uniswap swaps. * Just 18 hours later, another wallet fell victim to the same exploit and lost $33,000. * These incidents followed a May 24 attack where an upgraded address lost $146,551.
ScamSniffer Team and Safety Measures
According to ScamSniffer, the increasing number of victims suggests targeted efforts by scammers, particularly towards wallets using new smart contract features. It's recommended to always verify platform URLs, use tools like ScamSniffer to monitor and revoke unnecessary permissions, and double-check every transaction signature request before clicking 'Approve'.
The recent $3.05 million scam serves as a stark reminder of the risks in the crypto space, where users need to be vigilant and proactive. Education and the use of various security tools can be considered vital measures for protecting assets.
