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Scam Sniffer: Hackers stole $55 million worth of cryptocurrency in a month

by honeyman1 - 29 March, 2024 - 12:14 AM
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(This post was last modified: 29 August, 2024 - 09:29 PM by honeyman1. Edited 1 time in total.)
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Analysts at Scam Sniffer report that in January 2024, hackers created over 11,000 phishing resources and stole cryptocurrencies totaling approximately $55 million. 

Nearly all thefts were carried out in networks such as Ethereum, Arbitrum, BNB, Optimism, and Polygon. The increase in phishing attacks coincided with free giveaways of virtual assets, noted specialists at Scam Sniffer. Criminals posed as representatives of projects such as Manta Network, Frame, SatoshiVM, AltLayer, Dimension, zkSync, Pyth, and OpenSea

Unknown individuals, according to experts at Scam Sniffer, exploited the ERC-20 approval function to deceive participants in crypto projects into transferring funds from their non-custodial wallets to hackers' addresses.

Cybercriminals increasingly use the Create2 function to create temporary addresses, allowing them to remain anonymous and avoid detection. Earlier, experts at the company Hacken summarized incidents of cybersecurity and fraud in the crypto industry for 2023, where hackers were able to steal nearly
$1.9 billion.

 
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Bumped #2
This is a bump

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