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Crypto Hack: Ethereum Hit Hardest by Phishing in 2024, with $152 Million in Losses
Ethereum was the most targeted blockchain platform by phishing attacks in 2024, resulting in losses of a staggering $152 million. This comes as a stark reminder of the growing menace of phishing scams in the cryptocurrency space.
According to Scam Sniffer’s latest report on 2024 phishing attacks, the total loss to hackers reached an alarming $494 million, marking a 67% increase from the previous year. Although the number of victims increased by only 3.7%, the cost per attack escalated dramatically.
The majority of these attacks were perpetrated through wallet drainer malware and other sophisticated tactics that allowed hackers to drain user wallets with ease. This has led to an unprecedented level of financial loss for cryptocurrency users in 2024.
Ethereum, being the largest blockchain platform by market capitalization, was naturally a prime target for phishing scammers. In fact, the network experienced 25 significant cases of hacking, resulting in losses of $152 million. It’s worth noting that other blockchains such as Arbitrum, Blast, Base, and BNB Chain were also targeted, but none suffered to the extent that Ethereum did.
The numbers are nothing short of astonishing, and it is imperative that cryptocurrency users take immediate action to protect themselves from these attacks. This includes exercising extreme caution when interacting with unfamiliar links or wallets, and ensuring that all software is kept up-to-date with the latest security patches.
It’s also crucial for blockchain developers to work together to create more robust and secure platforms that can better withstand phishing attacks.
Source: coinpedia.org
