According to data from Web3 security company Scam Sniffer, approximately 97,000 users were affected by phishing attacks on the internet in just January and February of 2024, with the total amount of losses reaching a staggering $104 million.
In January of this year, the amount lost due to phishing attacks was $57.7 million, while in February it was $46.8 million. Ethereum users have become the main target of hackers, with over 70% of stolen assets being Ether (ETH) and ERC20 tokens.
The main reason why most victims fell prey to phishing attacks was inadvertently signing malicious phishing signatures, including “ERC20 Permit” and “increaseAllowance” signatures. These malicious signatures allowed attackers to use funds from the victim’s encrypted wallet without their knowledge.
Scam Sniffer’s analysis also revealed the common tactics used by these cybercriminals. It pointed out that a large number of victims were lured to phishing websites through fraudulent comments on social media platforms, especially X and the original Twitter. The hackers behind these scam comments often impersonated official accounts of legitimate cryptocurrency platforms, attempting to redirect users to malicious websites in order to steal assets from the wallets of those who signed the malicious signatures.
Related article: “2024 Unveiling the Tricks of Virtual Currency Scams! This Article Will Help You Crack Down on Virtual Currency Fraud”
Source: Scam Sniffer
