October Crypto
Shock:
Phishing Scams Drain $
41 Million From Victims
October Crypto Shock: Phishing Scams Drain $41 Million From Victims
by Christian Encila
2 mins ago
in Crypto News
0
A whopping $41 million has been lost in October so far due to the increasing
influx of phishing attacks. Most of the phishing operations within the crypto
space usually involve engaging users in signing actions through their crypto
wallets, to approve contracts or linking permissions.
Related Reading: Crypto Scandal Erupts: Ex-Philippine Mayor Implicated In $30
Million Fraud And Laundering
Making false tokens that look like real wallet tokens is one typical phishing
method used to pilfer cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта from victims wallets.
Particularly harmful is permit phishing since it lets several highly valuable
tokens be transferred simultaneously.
ð¨ 3 hours ago, another victim lost $1.57M after signing a
permit phishing signature.ð¸ pic.twitter.com/wDGZIMdJ7N
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) October 15, 2024
Phishing: Hackers Getting Smarter
An example is a wallet breach with $1.39 million worth of meme tokens.
Although such ransom attacks are not new, they picked up the pace just in the
last few days of October, which correlates with increased user activity.
ð¨ 25 mins ago, a PEPE holder lost $1.39M worth of PEPE, MSTR, and APU after
signing a permit2 phishing signature.ð¸
pic.twitter.com/Wf4nd8eFxl
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) October 13, 2024
Most such attacks occur on the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн, which is very liquid and
uses well-known smart contracts. Most hackers use open-source• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Программирование » Программное обеспечение » Свободное программное обеспечение » Открытое программное обеспечение
• Информационные технологии » Информатика » Программирование » Программное обеспечение » Свободное программное обеспечение » Открытое программное обеспечение
• Высокие технологии » Информационные технологии и телекоммуникации » Программирование » Программное обеспечение » Свободное программное обеспечение » Открытое программное обеспечение contracts to
devise malicious links or develop quite realistic-looking smart contracts for
unsuspecting individuals to click.
Hacked Social Media Accounts Spread Fake Links
Crypto has seen a lot of activity on X and similar platforms, which makes X
user accounts now the biggest target for hackers. The issue is particularly
high in October, as the meme token frenzy would overlap with a broader market
recovery. Hacked X accounts, especially those of influencers or meme token
projects, share links deceiving users into connecting their wallets.
As of today, the market cap of cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта stood at $2.27 trillion.
Chart: TradingView.com
The link might empty the wallets, even from a simple connect
wallet click. Some malicious links might be token recovery or anti-hack
tools. Other fake links also resemble and mimic advertisements from search
engines, such as Google• Объект организация » Организации по алфавиту » Организации на Go » Google (компания), which ask people to connect their wallets to new
blockchains. Therefore, all necessary testing for authenticity should be done
with empty wallets.
Exploits In Airdrop And Advertising
Phishing schemes always employ interest in airdrops or point farming to raise
the guard and obtain wallet permissions. Recently, hackers stole an X account
associated with the SPX6900 meme token, which might have put the buyers at
risk of malicious addresses.
Related Reading: Why Did Google• Объект организация » Организации по алфавиту » Организации на Go » Google (компания) Remove The Bitcoin Price Chart? Investors Left
Guessing
Malicious links may appear like harmless offers or download links targeting
people preparing their wallets for trading meme tokens but these events will
become more prevalent as more users begin filling the meme token space.
Social media scam ads, fake comments, botched Discord servers, and expired
invitation links are additional risks. One attack can swallow your wallet,
another might do a lot more damage that could be beyond your crypto wallet.
Featured image from Wisevu, chart from TradingView