Crypto phishing attacks have reached a record-breaking $341 million in the first half of this year, surpassing the total amount scammed in 2023. According to security expert Yu Xian, the profit margin of these malicious attacks is proving to be quite lucrative, with 20 large accounts losing over $1 million each. Most of these losses were due to offline authorization signatures being phished away.
In total, approximately 260,000 victims across all Ethereum Virtual Machine-compatible chains lost $314 million between January and June 2024. The top 20 victims alone lost a staggering $58 million, primarily falling victim to signature permits such as Permit, IncreaseAllowance, and Uniswap Permit2.
One individual user suffered the second-largest theft in history, losing $11 million worth of tokens due to a permit signature phishing attack. The majority of large thefts involved staking, restaking, Aave Collateral, and Pendle tokens. Pendle-related thefts accounted for 23.6% of total losses, followed by restaking assets at 19.5%, Aave Collateral at 18%, and staking at 8%.
Scam Sniffer revealed that most of these phishing attacks originated from impersonator accounts on X, formerly known as Twitter. Victims were lured to phishing websites through deceptive comments on the platform. It is crucial for users to exercise caution and verify the authenticity of accounts and websites before engaging with any cryptocurrency transactions.
As the prevalence of crypto phishing attacks continues to rise, it is essential for individuals to stay informed and vigilant to protect their digital assets. By being aware of common phishing tactics and taking steps to verify the legitimacy of online platforms, users can reduce the risk of falling victim to these fraudulent schemes. Stay updated on the latest security measures and reports to safeguard your investments in the rapidly evolving crypto landscape.