Cyber Phishing Scams Cost Users Nearly $300 Million in 2023
Date: 2024-01-02 Author: Dima Zakharov Categories: IN WORLD
Rising Threat of Phishing Attacks in 2023
The year 2023 witnessed a surge in cyber phishing attacks, with nearly $300 million lost to these fraudulent activities. According to Scam Sniffer, a cybersecurity research firm, a staggering 324,000 cryptocurrency users fell victim to these attacks, resulting in substantial financial losses.
Phishing Trends on the Rise
Scam Sniffer's annual report for 2023 highlighted a worrying trend of growing phishing site activities and projects. Even when providers of such platforms are shut down, criminals swiftly relocate their operations elsewhere. It appears that there is no shortage of platforms catering to fraudulent activities.
Anonymous Developer's Exit and a Criminal Recommendation
On March 2nd, an anonymous developer and administrator of fraudulent NFT schemes known as Monkey Drainer announced the cessation of cryptocurrency theft services via malicious smart contracts. However, Monkey Drainer recommended another criminal service to its clientele. Scam Sniffer estimates that Monkey Drainer pilfered digital assets worth approximately $16 million.
Changes in the Criminal Landscape
Another major player in cryptocurrency theft software, Inferno Drainer, declared the cessation of its activities in the fall of the same year. Over the course of a year, it assisted in relieving unsuspecting users of approximately $80 million. Scam Sniffer alleges that Angel Drainer took up the mantle following Inferno Drainer's closure.
Various Phishing Tactics
Phishing websites employ several methods to attract traffic, but one of their favored techniques is compromising official Discord and X (formerly Twitter) project accounts. They then distribute phishing links through messages from well-known figures' accounts. In addition, scammers manage to place paid advertisements on Google Search and X, bypassing existing regulations.
