Phishing scams, assaults disguised as respectable communication or web sites designed to steal funds and delicate data, value crypto customers over $12 million in August, up 72% from July, Web3 anti-scam service Rip-off Sniffer reported on Saturday.
Crypto phishing scams impacted 15,230 victims in August, a 67% enhance from July, with the one largest loss costing one consumer over $3 million, according to Rip-off Sniffer.
The Rip-off Sniffer workforce additionally famous a “sharp escalation” in EIP-7702 signature scams. EIP-7702 is an Ethereum enchancment proposal that enables Externally Owned Accounts to behave as sensible contract wallets that may execute transactions and shift funds.
Scammers and hackers exploiting this functionality drained over $5.6 million in August by three separate assaults, Rip-off Sniffer stated.
Scams and cybersecurity exploits proceed to be an issue in crypto, with over $163 million stolen in August by malicious exercise. The persistent menace is a reminder for crypto customers to stay vigilant and observe good anti-phishing and anti-scam safety measures.
Associated: Venus Protocol recovers user’s $13.5M stolen in phishing attack
Good practices for staying protected in opposition to phishing scams
Losses from crypto hacks and scams crossed $3.1 billion within the first half of 2025 amid more and more refined assault strategies.
Scammers usually goal customers by posing as respectable and well-known cryptocurrency exchanges, both organising pretend web sites with comparable URL addresses to respectable exchanges or sending pretend communications to customers.
These communications embody emails, textual content messages, and even physical letters sent through the mail, designed to steal delicate consumer data, together with seed phrases for crypto wallets and passwords to on-line accounts.
Sometimes, the scammers will faux to be customer support brokers from respected exchanges, claiming that the consumer’s account is dealing with some form of menace or cybersecurity problem and demand private data from the consumer, together with seed phrases.
Good practices to avoid phishing scams embody checking URLs for tiny errors and bookmarking pages as a substitute of utilizing search engines like google and yahoo or the search bar to entry web sites each time, verifying web site hyperlinks, and avoiding downloading attachments or clicking hyperlinks from unknown sources.
Phishing scams usually include misspelled phrases or grammatical errors, and any of those errors is a purple flag; customers ought to learn by messages fastidiously to detect such errors.
Crypto and Web3 customers must also use digital personal networks (VPNs) to masks their IP addresses and bodily places, by no means give out seed phrases or passwords, and allow two-factor authentication for delicate on-line accounts.
Journal: $55M DeFi Saver phish, copy2pwn hijacks your clipboard: Crypto Sec
