An individual who owns cryptocurrency ended up losing over $500,000 when they mistakenly authorized a harmful transfer on a fraudulent inter-blockchain link.
On January 6th, Scam Sniffer, a security platform for Web3, alerted about an occurrence on their platform. They mentioned on X that a user had unfortunately lost over half a million dollars’ worth of Chainlink (LINK) to a harmful cryptocurrency bridge due to malicious activity.
It appears that on January 4th, the unfortunate individual approved a fraudulent transaction, leading to the disappearance of about 22,415 LINK tokens, which were worth around $525,196 at that moment. As per Scam Sniffer’s report, the perpetrators focused their efforts on Telegram-based decentralized finance communities and exploited users who were looking for quicker linking solutions.
The event occurred not long ago following a report about DeFi attacks, which disclosed that the ecosystem suffered a total theft of $494 million due to wallet drainer phishing scams in 2024. Over a 12-month span, more than 332,000 accounts were breached, representing a significant yearly increase of 67% in losses. The number of affected wallets grew by approximately 3.7% during the same timeframe.
Based on a study, there was an escalation of wallet-draining incidents throughout the year, with the biggest single crypto heist via these attacks surpassing $55.4 million.
By December 2024, Scam Sniffer revealed that cybercriminals had been exploiting Google ad campaigns to swindle cryptocurrency owners of their funds. A typical example involved deceitful ads directing users towards a sham Pudgy Penguins website, ultimately leading to stolen assets.
Last month, the blockchain security company, SlowMist, disclosed that hackers have shifted their focus towards exploiting Zoom for targeting cryptocurrency users.
Given that these types of incidents persist, Scam Sniffer recommends users to exercise caution by checking URLs and refraining from clicking links sent by unknown sources. Furthermore, the platform advises against trusting people who seem overly eager to assist, as eagerness is a method often employed by scammers to create urgency.
If assistance appears overly enthusiastic, exercise added caution. Spend some time validating the source – haste is frequently used by scammers as a tactic. This tip comes from Scam Sniffer on platform X.
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2025-01-07 00:26