CandleFocus

Over $41M lost to phishing attacks so far this October

Author: Content Editor
In October, there has been an increase in phishing attacks targeting individual wallets in the crypto space. It is estimated that over $41 million has been lost to these attacks so far this month. Phishing attacks involve tricking users into signing permits or contracts that give hackers access to their wallets and funds. These attacks have become more prevalent as more people enter the crypto market. DefiHackLabs has discovered eight exploits in October, with losses ranging from $100,000 to $2.4 million. The losses from these attacks are difficult to recover, as hackers often move the stolen funds through decentralized exchanges or mixers. The Ethereum network is particularly vulnerable to these attacks due to its popularity and well-understood smart contracts. Users are being targeted through various methods such as fake airdrops, scam advertisements, and compromised social media accounts. It is important for users to exercise caution and be skeptical of suspicious links and requests for wallet permissions.

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