Phishing Crypto Attacks Have Surged by 40% in One Year: Report

5,040,520 crypto phishing assaults were discovered by Russian antivirus business, Kaspersky, in 2022, compared to 3,596,437 in 2021.

According to a survey by the cybersecurity company Kaspersky, Bitcoin phishing assaults increased 40% from the previous year in 2022. 5,040,520 crypto phishing assaults were discovered by the Russian cybersecurity and antivirus business in 2022, compared to 3,596,437 in 2021.

One out of every seven respondents to a Kaspersky poll from 2022 acknowledged having fallen victim to bitcoin phishing. The majority of phishing assaults use phony wallets, phony websites or crypto giveaway schemes. However attackers are constantly changing their tactics.

According to Kaspersky, cryptocurrencies still remain “a symbol of getting rich quick with minimal effort,” which drives scammers to improve their methods and narratives to entice unsuspecting crypto investors.

Crypto Holders Being Targeted via Different Tactics

Attacks known as “phishing” include delivering false messages that seem to be from a reliable source. Email is typically used for this. The intention is to steal personal information like credit card numbers and login credentials or attack the victim’s computer with malware. 

Additionally, users are invited to give private keys and other personally identifiable information, giving hackers unauthorized access to their digital currencies and other financial records.

The momentum of phishing assaults continues in 2023. Trezor, a company that makes hardware wallets for cryptocurrencies, most recently issued a warning in March regarding attempts to steal customers’ bitcoin by luring them into entering their recovery phrase on a phony Trezor website.

Notably, Kaspersky predicted in November of last year that in 2023, hackers will use the Metaverse to harm oblivious clients. 

In its “Consumer Cyberthreats: Predictions for 2023” report, Kaspersky claims that these malicious actors are looking for methods to broaden their strategies and tactics as they investigate new ways to strike via streaming services, social media, and even online gaming platforms.

Moreover, an infamous “Monkey Drainer” phishing fraudster from last year allegedly stole 700 ETH worth over $1 million and executed over 7,300 transactions.