BasEx | Cryptocurrency Holders Lose $58 Million to Phishing Airdrops
Cryptocurrency holders lose $58 million due to phishing airdrops
Cryptocurrency holders lose $58 million due to phishing airdrops

Since March 2023, malicious actors, using a harmful script, have emptied the wallets of over 63,000 cryptocurrency users, stealing more than $58 million. This was reported by on-chain analyst ScamSniffer.

The fraudsters lured victims to phishing sites, promoted through Google search and online advertising platforms, creating over 10,000 fake web pages. They were particularly active in May, June, and November.

Among the fraudulent schemes were fake announcements about NFT giveaways, such as Ordinals Bubbles, and airdrops supposedly from well-known projects.

The main losses were suffered by Ethereum and Arbitrum holders, with one victim losing $24 million.

ScamSniffer found that about 60% of the phishing ads used this malicious script to steal crypto assets. Moreover, the creators of the script sold its source code to other cybercriminals.

In the past, ScamSniffer also discovered hackers using the code to access private keys of Ethereum addresses, which could lead to the theft of cryptocurrency worth $60 million.

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