Phishing attacks within the cryptocurrency industry in April decreased by 46% to $38 million, the lowest amount of the year. according to Security company Scam Sniffer.
Notably, this is in line with CertiK’s findings that cryptocurrency-related exploits and scams plummeted to a historic low of $25.7 million in April.
April phishing attacks
The Coinbase-backed Ethereum Layer 2 network Base has seen a 145% increase in phishing incidents over the past month, reaching $8.2 million, according to research from Scam Sniffer. Two of his top 10 single thefts occurred on this chain, accounting for his 21% of total thefts for the month.
ERC-20 tokens, on the other hand, bore the brunt of the attack, with 88% of stolen assets belonging to this class.
Scam Sniffer has identified fake accounts on social media platform X (formerly Twitter) as the main tool used by scammers. These attackers imitate well-known projects such as Renzo, Avail, Ether.fi, Wormhole, and Omni, and their accounts often display fake verification marks to attack unsuspecting users. It gives an authentic atmosphere that is used to seduce.
Attackers can use these accounts to post deceptive comments on social media platforms, lure unsuspecting individuals to malicious sites, and steal assets.
Additionally, attackers typically use phishing signatures such as Permit, IncreaseAllowance, and Uniswap Permit2. These malicious signatures allow the attacker to access the victim’s funds without their knowledge.
The scam detector added:
“Despite wallets increasing phishing warnings for certain signatures, wallet dumpers are using legitimate contracts such as Disperse and Uniswap Multicall, as well as variants of value normalization, to suppress these warnings. We are actively finding ways to get around it.”
