According to the data from Web3 security company Scam Sniffer, approximately 97,000 users were affected by phishing attacks on the internet in just January and February of 2024, with the total amount of losses reaching a staggering $104 million.
In January of this year, the amount lost due to phishing attacks was $57.7 million, and in February, it was $46.8 million. Ethereum users have become the primary targets for hackers, with over 70% of stolen assets being Ethereum (ETH) and ERC20 tokens.
The main reason why most victims fell prey to phishing attacks was unintentionally signing malicious phishing signatures, including “ERC20 Permit” and “increaseAllowance” signatures. These malicious signatures allowed attackers to use funds from victims’ crypto wallets without their knowledge.
Scam Sniffer’s analysis also revealed the common tactics used by these cybercriminals. It pointed out that a large number of victims were lured to phishing websites through fraudulent comments on social media platforms, especially X and the original Twitter. Hackers who post these scam comments often impersonate official accounts of legitimate cryptocurrency platforms, attempting to redirect users to malicious websites in order to steal assets from their wallets.
Related article: “2024 Cryptocurrency Scam Techniques Revealed! This Article Will Help You Decode Cryptocurrency Scams”
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