{"id":73306,"date":"2024-03-11T04:14:12","date_gmt":"2024-03-11T08:14:12","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73306"},"modified":"2024-03-11T04:16:40","modified_gmt":"2024-03-11T08:16:40","slug":"crypto-phishing-attacks-over-1-million-decrease-75-in-february","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-phishing-attacks-over-1-million-decrease-75-in-february\/","title":{"rendered":"Crypto Phishing Attacks Over $1 Million\u00a0Decrease 75%\u00a0in February"},"content":{"rendered":"\n

According to data on crypto phishing attacks<\/a>, ERC20 tokens account for 78% of the total market theft.<\/p>\n\n\n\n

\"Crypto<\/figure>\n\n\n\n

With the increasing adoption of cryptocurrencies, there has been a notable surge in the occurrence of crypto fraud attacks within the market.<\/p>\n\n\n\n

Nevertheless, the sector has exhibited certain progress throughout February, as the substantial volume of thefts has been brought under significant control.<\/p>\n\n\n\n

Crypto Phishing Attacks Steal $47 Million<\/h2>\n\n\n\n

In February, approximately 57,000 individuals fell victim to crypto phishing schemes, resulting in losses of approximately $47 million, according to the most recent phishing report by ScamSniffer.<\/p>\n\n\n\n

Meanwhile, the number of victims incurring losses exceeding $1 million <\/a>decreased by a substantial 75% in comparison to the previous month of January.<\/p>\n\n\n\n

\n

\ud83d\udea8 [1\/6] ScamSniffer's February Phishing Report
In February, about 57,000 victims lost approximately $47 million to crypto phishing scams.
Compared to January, the number of victims who lost over $1 million decreased by 75%. pic.twitter.com\/UgZk0K91lH\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) March 10, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

A staggering 78% of the overall thefts occurred on the Ethereum mainnet, where ERC20 tokens emerged as the predominant targets, accounting for 86% of the total.<\/p>\n\n\n\n

Phishing signatures\u2014namely Permit, IncreaseAllowance, and Uniswap Permit2\u2014were accountable for the majority of ERC20 token thefts.<\/p>\n\n\n\n

Primarily, victims were lured to visit phishing websites through phishing comments posted from impersonated Twitter accounts.<\/p>\n\n\n\n

Furthermore, most Wallet Drainers employed Safe or Account Abstraction wallets as token approval spenders to initiate the thefts.<\/p>\n\n\n\n

The mentioned discoveries underscore the persistent difficulties presented by crypto scams and highlight the criticality of increased vigilance and security protocols within the crypto community to alleviate these risks.<\/p>\n\n\n\n

Crypto Hackers Employ Various Methods to Pilfer<\/h2>\n\n\n\n

As per the Better Business Bureau (BBB)<\/use><\/svg><\/span><\/a>, investment and cryptocurrency frauds have emerged as the most dangerous form of deceit in the United States.<\/p>\n\n\n\n

These fraudulent individuals prey on their victims often, causing them to lose tens of thousands of dollars.<\/p>\n\n\n\n

Based on 67,000 scam reports, the BBB's annual report on the largest frauds of 2023 highlights the ingenious methods used by con artists to deceive investors.<\/p>\n\n\n\n

With a median loss of $3,800, roughly 80% of Americans who were victims of cryptocurrency and investment fraud suffered financial losses last year.<\/p>\n\n\n\n

Meanwhile, the scammers establish communication with victims through various\u00a0channels, including text messages, video game platforms, and social media<\/a>, frequently boasting of their financial success due to\u00a0cryptocurrency investments.<\/p>\n\n\n\n

According to the BBB, as soon as the victim responds, the conversation abruptly shifts to a solicitation for monetary assistance.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to data on crypto phishing attacks, ERC20 tokens account for 78% of the total market theft. With the increasing adoption of cryptocurrencies, there has been a notable surge in the occurrence of crypto fraud attacks within the market. Nevertheless, the sector has exhibited certain progress throughout February, as the substantial volume of thefts has been brought […]<\/p>\n","protected":false},"author":56,"featured_media":73321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8682,8194],"class_list":["post-73306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-scams-2","tag-phishing-attack"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/Crypto-Phishing-Scammers-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=73306"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73321"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}