Scam Sniffer, a web3 anti-scam platform, has recently reported a concerning surge in cryptocurrency theft in 2023. This surge can be attributed to the rising complexity of phishing scams.
"In the past year, Scam Sniffer has monitored these Wallet Drainers stealing nearly 295 million US dollars in assets from about 324,000 victims," the report stated.
In a recent report, it was revealed that crypto phishing scams have been on the rise each month in 2023. Scammers are using more sophisticated tactics to target their victims.
"Over the past year, phishing activities have steadily increased each month with phishing scammers employing more sophisticated tactics to evade security measures. Scam Sniffer has made findings on “Wallet Drainers” that warrant the industry’s full attention.”
According to a study conducted by Scam Sniffer, it was discovered that victims of Wallet Drainers lost approximately $295 million in the past year. This staggering amount was taken from around 324,000 individuals.
On March 11, scammers managed to deceive victims and take $7 million, primarily due to fluctuations in USDC rates. Scam Sniffer reports that the victims were lured by fraudulent Circle websites.
Although hacking attacks can have a significant impact, the community often reacts promptly, usually within 10-50 minutes.
On the other hand, Scam Sniffer points out that airdrops, organic traffic, paid advertising, and hijacked Discord links are more challenging to detect.
Additionally, Scam Sniffer has analyzed approximately 12 million URLs in the past year, revealing nearly 145,000 malicious ones.
At present, Scam Sniffer's open-source blacklist contains nearly 100,000 malicious domains.
The "Tech Against Scams" coalition, comprising of Coinbase, Match Group, Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organisation (GASO), has united to combat the escalating problem of online fraud and financial schemes.
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