Cryptocurrency investors lost $3 million in a phishing scam without verifying contract addresses while signing malicious blockchain transactions, highlighting the risks posed by digital asset scams.
Clicking a single point is a USDT worth $3 million (USDT) Investors who failed to verify the contract address before signing a blockchain transaction.
“Someone encountered victims of phishing attacks, signed up for malicious transfers and lost $3.05 million.” according to X Wednesday X post from blockchain analytics platform LookOnchain. “Keep alert and stay safe. A wrong click will churn your wallet. Never sign a deal that you don’t fully understand.”
Encrypted phishing attacks is a social engineering program in which attackers share fraudulent links to steal sensitive information from victims, such as private, critical cryptocurrency wallets.
Like most investors, the victim may verify the wallet’s address by matching the first and last few characters by simply transferring $3 million to the malicious actor. In intermediate characters, this difference is often significant, often hidden on the platform to enhance visual appeal.
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Another victim highlighted the need for more investor due diligence, another victim lost over $900,000 worth of digital assets Complex phishing attacks On Sunday, 458 days of a wallet scam that had been signed without realizing it, according to Cointelegraph.
These amounts are pale compared to the $71 million lost Wallet poisoning scam This is a surprising turn in May 2024 when the liar changed his heart. $71 million was returned In two weeks after the growing pressure to collapse into global blockchain investigators, the attacker’s potential Hong Kong-based IP address was revealed.
Related: Creditix recovers $4.5 million after cryptocurrency after successful exploitation of negotiations
The highest security issue for encrypted phishing attacks in 2024
Hackers are gradually shifting their focus from code to exploiting vulnerabilities in human psychology, which may be easier to bypass than protocol guardrails.
Phishing attacks are The most expensive attack Vector of the crypto industry in 2024, in 296 incidents, attackers have stolen digital assets by more than $1 billion. according to Granting Certik’s annual Web3 security report
In the nearly 300 phishing attacks in 2024, at least three of them caused losses worth more than $100 million.
“Phing was the most expensive attack vector last year,” a Certik spokesman told Cointelegraph. “Our numbers are conservative; the actual numbers are higher when you consider unreported events and other types of phishing scams like pig slaughterhouses.”
To cope with this growing threat, the security team of the world’s largest exchange, Developed an “antigen” Cointelegraph reported in May 2024 that it opposed the address poisoning scam, which initiated an algorithm that detected nearly 15 million poisoning addresses.
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Magazine: $12.1 million fraud suspect arrested, crypto fraudster boiler room arrested: Asian Express
