By The Numbers: Crypto Users Lose $300 Million To Phishing Scams In 2023
03 Januar 2024 - 5:30PM
NEWSBTC
In a startling revelation by Scam Sniffer, the cryptocurrency world
has been hit hard by a series of sophisticated phishing scams in
2023. The team behind the crypto security tool has reported that
Wallet Drainers, a type of malware, have successfully siphoned off
nearly $295 million from approximately 324,000 unsuspecting victims
in the space. Related Reading: Is Internet Computer (ICP) The Next
Big Thing? 60% Jump Raises Eyebrows These malicious software
programs, predominantly found on phishing websites, trick users
into authorizing harmful transactions, leading to significant asset
theft from their crypto wallets. Wallet Drainers: The New Threat in
Crypto Security? A closer examination of the data reveals a
worrying trend of increasing phishing activities; each correlated
with specific events in the crypto space. For instance, a
significant theft of almost $7 million was reported on March 11,
coinciding with fluctuations in USDC rates and an impersonation
scam of Circle, the company behind the stablecoin. Additionally, a
noticeable theft spike was observed around March 24, aligning with
the hacking of Arbitrum’s Discord and its airdrop date. Scam
Sniffer’s report highlighted several notable Wallet Drainers,
including Inferno Drainer, which alone stole $81 million from
134,000 victims, and MS Drainer, with a haul of $59 million from
63,000 victims. The report notes the alarming scale and velocity of
these operations. For example, Monkey Drainer extracted $16 million
over six months, whereas Inferno Drainer looted $81 million in just
nine months, as seen in the chart below. The report also sheds
light on the common phishing signatures these Drainers use.
Depending on the type of assets in a victim’s wallet, various
phishing methods are deployed, ranging from increased allowance to
ERC20 permit signatures. The most severe cases involved victims
losing millions to these sophisticated scams. Scam Sniffer’s
Analysis: Tracking Malicious Trends Scam Sniffer has ramped up its
efforts in response to this growing threat. Over the past year, the
tool scanned nearly 12 million URLs, identifying close to 145,000
as malicious. Furthermore, its open-source blacklist contains
nearly 100,000 dangerous domains, continuously updated to platforms
like Chainabuse. The increasing use of smart contracts by scammers,
such as multicall for efficient asset transfers and CREATE2 &
CREATE functions to bypass wallet security checks, marks a
significant change from the previous year. This evolution
underscores the need for enhanced vigilance and updated security
measures in the crypto community. Scam Sniffer’s work extends
beyond just tracking and reporting. The team actively collaborates
with well-known platforms, offering its services to their users.
They encourage all stakeholders in the crypto ecosystem to “join
the fight against phishing, emphasizing that security is a
collective responsibility.” Related Reading: Ethereum Price
Momentum Reignites: Technical Signals Potential Surge To $2,600 In
closing, Scam Sniffer acknowledges the support of its community:
(…) crypto phishing involves multiple parties, crypto, and
non-crypto platforms. Security requires a collective effort. If you
wish to enhance your product’s capabilities in this area, please
contact us at b2b@scamsniffer.io. Finally, thanks to all the
supporters of Scam Sniffer! Your support is the motivation that
keeps us going. Cover image from Unsplash, chart from Tradingview
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