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Crypto phishing scams drained $10.25 million in January

February 4, 2025Updated:February 4, 2025No Comments2 Mins Read
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Crypto phishing scams drained .25 million in January
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Blockchain safety agency Rip-off Sniffer reported that crypto phishing scams drained $10.25 million from 9,220 victims in January, marking a 56% decline from December’s $23.58 million in losses.

Nonetheless, the report notes that the unhealthy actors have been evolving and implementing extra subtle assault strategies.

Crypto phishing scams drained .25 million in January
Screengrab displaying the stats from the January 2025 Phishing Report (Supply: Rip-off Sniffer)

Ethereum customers focused

In line with Rip-off Sniffer, Ethereum customers had been essentially the most affected by phishing scams, accounting for over 80% of the stolen funds.

Losses on Ethereum exceeded $8.6 million, whereas BNB Chain and Arbitrum customers misplaced $710,000 and $572,000, respectively. Polygon and Optimism additionally noticed losses of round $191,000 and $82,000.

The agency famous that malware-driven assaults contributed considerably to those losses. The Uniswap Permit2 exploit alone siphoned $1 million, whereas direct transfers value victims $549,000. One other $471,000 was misplaced to transaction simulation spoofing.

Phishing ways evolve

The report highlighted the growing sophistication of phishing scams. One case concerned a sufferer who misplaced 143.45 ETH, valued at $460,895, resulting from transaction simulation spoofing.

This tactic manipulates on-chain states between transaction simulation and execution, deceiving customers into authorizing malicious transfers.

One other rising risk includes pretend safeguard scams on Telegram, which have surged over 2,000% since November 2024.

The agency identified that attackers now infiltrate reputable crypto communities as a substitute of impersonating high-profile figures. They lure victims into fraudulent Telegram teams utilizing seemingly reliable invites.

As soon as inside, victims work together with pretend bots, counterfeit buying and selling platforms, and misleading airdrops. Victims who have interaction with these channels unknowingly activate the malicious code that compromises delicate information, together with pockets credentials and passwords.

Solana customers have additionally turn out to be prime targets for these phishing attackers.

In line with the report, pretend Phantom popups trick customers into revealing their seed phrases, contributing to January’s losses. This coincides with Solana’s rising reputation, which is pushed by elevated memecoin buying and selling exercise on the community.

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