CandleFocus

Over $20 million was stolen in phishing scams in October

Author: Content Editor
ScamSniffer has reported that in October 2024, over 12,000 victims lost $20.2 million to crypto phishing incidents. This marks a 56% drop in the amount stolen compared to the previous month, but the number of victims increased by 20%. Ethereum was the most targeted blockchain network, with over $10.4 million stolen. A user on the Blast network lost the highest amount, with tokens originally worth over $35 million but depegged to $5.87 million. Other attacks included compromised Permit signatures and a supply chain attack. Despite the decline in October, the total amount stolen in 2024 has surpassed the previous year's numbers. The rise in phishing incidents and victims underscores the growing profitability of crypto phishing scams, aided by the availability of draining as a service (DaaS) operators. Users' mistakes or negligence contribute to the increase in such incidents.

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