- November phishing scams resulted in $9.38M in losses, with one victim losing $661K in stETH within minutes.
- Phishing attacks hit multiple platforms, including Arbitrum, Uniswap, and direct Ethereum transfers, causing major losses.
- As phishing threats rise, experts urge crypto users to strengthen security measures and protect private keys.
The Phishing scams in November reportedly involved $9.38 million transfer, and 9,200 plus people, according to a blockchain analytics firm. The biggest loss was $661,000 in stETH lost in minutes which speaks volumes of the speed and destructiveness of these hacks.
Other key events of the year also featured in the report included $409,000 of WBTC stolen through Arbitrum and $344,000 of FET from Uniswap on Ethereum. Another $220,000 in Tether (USDT) was stolen via direct Ethereum transfers, which means that phishing attacks do not target a single platform.
Phishing Scams on the Rise
The amount of money stolen is way lower than the $20.2 million stolen in October and $45.8 million stolen in September but the victims are still being reported. The experts have also mentioned that while the financial impact has been minimized the number of such attacks remains high and became one of the key concerns of the cryptocommunity.
The Phishing attacks are getting more and more advanced and one of the recent scams known as Inferno Drainer has been followed by another one called Angel Drainer. This shows that the scammers are in no way idle and have adapted how they work and avoid the efforts that have been made in an attempt to counter these phishing scams which makes it very hard for users to be able to detect these spoofing attacks.
According to the report from blockchain security company CertiK, 65 separate incidents of phishing scams resulted in funds losses of $343.1 million in Q3 of the year 2023. Due to the fact that today phishing attacks are the most dangerous in the world of cryptocurrencies, experts advise everyone to be more careful and use stronger protection tools.
Fake X Accounts Fuel Phishing Traffic
Scam Sniffer, a crypto fraud detection platform, said that fake X accounts were responsible for directing the most phishing traffic with fraudulent Google ads coming in second place. These techniques are still used to trick users into giving their information to a phishing site therefore emphasizing the need to be careful when on the internet.
While current phishing threats are becoming more and more elaborate, the specialists recommend that crypto users stay on their toes and keep their guard up. This is because the private keys must be well protected while the links and requests that are received must be checked for their authenticity in order to escape these ever emerging frauds.
