Crypto phishing scams targetted 320000 users to steal around USD 300 million in 2023 – India TV

Wallet drainers are one of the known malware which is related to cryptocurrency. A new report has recently revealed that the malware has stolen USD 295 million in cryptocurrencies from about 324,000 victims in 2023. According to Scam Sniffer, cybercriminals stole around USD 7 million on March 11 (2023). Most of it was due to fluctuations in USDC rating, as victims faced phishing websites which impersonated the circles.

The researchers said, “Over the past year, phishing activities have steadily increased each month with phishing scammers employing more sophisticated tactics to evade security measures.”

On March 2 (2023), the group of cybercriminals known as the Monkey Drainer, which was responsible for various phishing attacks, announced that it would be ceasing its operations. However, before shutting down, the group further recommended another illegal service to its customers.

The report says that the Monkey Drainer was managing to steal approximately USD 16 million worth of digital assets before closing down.

Similarly, Inferno Drainer also closed down in 2023 after stealing about USD 81 million in digital assets.

The report further investigated how the phishing sites have acquired traffic.

Hacking a project’s official Discord and X accounts and then disseminating phishing URLs through posts is one approach crypto thieves use.

In addition, the researchers discovered that scammers were able to publish paid Google Search and X ads despite Google and X’s advertising limits.

ALSO READ: Most anticipated gadgets set to launch in 2024

Inputs from IANS

Wallet drainers are one of the known malware which is related to cryptocurrency. A new report has recently revealed that the malware has stolen USD 295 million in cryptocurrencies from about 324,000 victims in 2023. According to Scam Sniffer, cybercriminals stole around USD 7 million on March 11 (2023). Most of it was due to fluctuations in USDC rating, as victims faced phishing websites which impersonated the circles.

The researchers said, “Over the past year, phishing activities have steadily increased each month with phishing scammers employing more sophisticated tactics to evade security measures.”

On March 2 (2023), the group of cybercriminals known as the Monkey Drainer, which was responsible for various phishing attacks, announced that it would be ceasing its operations. However, before shutting down, the group further recommended another illegal service to its customers.

The report says that the Monkey Drainer was managing to steal approximately USD 16 million worth of digital assets before closing down.

Similarly, Inferno Drainer also closed down in 2023 after stealing about USD 81 million in digital assets.

The report further investigated how the phishing sites have acquired traffic.

Hacking a project’s official Discord and X accounts and then disseminating phishing URLs through posts is one approach crypto thieves use.

In addition, the researchers discovered that scammers were able to publish paid Google Search and X ads despite Google and X’s advertising limits.

ALSO READ: Most anticipated gadgets set to launch in 2024

Inputs from IANS