A person who invests in cryptocurrencies has suffered a loss of approximately $520,000 due to being deceived by a counterfeit cross-chain bridge scheme. This unfortunate individual, possessing about 22,415 LINK tokens worth around $525,000 at the time, was misled into executing a harmful transaction on January 4, as reported by the Web3 security platform Scam Sniffer.
The assault focused on Telegram communities associated with decentralized finance (DeFi), exploiting users seeking faster transfer options. These fraudsters created a counterfeit cryptocurrency bridge site to swindle funds from unaware investors.
2024 data shows an upward trend for wallet drainer phishing scams, with these fraudulent activities accounting for over $494 million in stolen funds and affecting more than 332,000 crypto wallets. This represents a significant 67% increase in annual losses compared to the previous year. In certain instances, the thefts have surpassed an astounding $55 million.
Deceptive advertisements and phishing attempts have grown more complex in nature. Previously, Scam Sniffer exposed scams that exploited Google ad campaigns to direct users towards counterfeit sites, such as a Pudgy Penguins replica. More recently, a security firm specializing in blockchain, SlowMist, discovered that con artists are now manipulating Zoom to deceive crypto users.
To help protect yourself from increasing fraudulent activities in the cryptocurrency world, Scam Sniffer advises crypto owners to check URLs before clicking and be wary of links from unrecognized sources. Additionally, they warn about placing trust in individuals who appear excessively eager to assist, as scammers often instill a sense of urgency to deceive.
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2025-01-07 12:40