Crypto scams increases by 40% in a year

In 2022, crypto phishing was detected 5,040,520 times, up from 3,596,437 times in 2021, according to Kaspersky. This information is consistent with Kaspersky’s earlier this year investigation of cryptocurrency risks, which included a poll in which every sixth respondent reported having been a victim of crypto phishing.

A Boynton Beach resident loses $15,000 in a crypto scam

An online dating and cryptocurrency fraud cost a Boynton Beach man $15,000; as a result, he phoned Contact 5 and is now alerting other customers to the scam.

The cryptocurrency was never difficult for Boynton Beach resident Kevin Kok.

He informed Contact 5 that he had previously engaged in cryptocurrency trading while maintaining a coin base and a digital wallet.

The situation was unique this time, though. According to Kok, a person he believed to be dating online conned him into investing in cryptocurrencies.

“She inserted cash into my wallet and into this wacky software that resembles a shadow. So, everything seems to be operating, albeit quietly. They are in complete control “said Kok. Thus, even if it appears that you are making money, your money has already been spent.

He told Contact 5 that despite believing he had been dating the scammer for months, he really lost $15,000 and never heard from him again.

A Port St. Lucie man is raising the same alarm after falling victim to the same fraud, only a few weeks after a Boynton Beach man phoned Contact 5 after losing thousands of dollars to a crypto investing program and online dating scam.

Kevin Kok said to Contact 5 in early March, “It seems like you’re making money, but your money is already gone.”

Kok allegedly lost $15,000 to a lady he thought he was meeting online in a cryptocurrency fraud after calling Contact 5.

Kok stated, “It’s worth it if I can even just save one person from sliding down this slippery path that I went down.

A man from Mission was scammed of $30,000

According to the Mission RCMP, a man from Mission was scammed out of $30,000 after being convinced to invest in several cryptocurrency purchases.

According to the detachment’s weekly crime report for March 20–26, a business that pretended to be in Europe persuaded the individual to invest in cryptocurrencies by promising false profits.

The individual discovered it was a fraud when he requested to withdraw his money and reported it to the RCMP. According to the police, the firm didn’t make any investments, and the money was gone.

Theft of $9 million from Crypto Liquidity Pool

Cybercriminals have stolen $8.9 million from cryptocurrency company SafeMoon by taking advantage of a recently discovered vulnerability that affects the company’s liquidity pool.

Large amounts of cryptos that are locked in a smart contract are known as liquidity pools, and they supply liquidity to decentralized finance (DeFi) exchanges.

Nevertheless, according to John Karony, CEO of the company, SafeMoon, the SFM: BNB pool was hacked on March 28.

“Our team has convened with important advisers in the intervening hours to come to a solution that safeguards token holders and the community. To ascertain the specific nature and scope of the alleged attack, a chain forensics specialist has been hired.” We have also fixed the vulnerability, according to Karony.

“Users should have confidence that their tokens are secure. We are certain that we can resolve this issue because of the adaptability of our technology.”

According to Karony, neither the company’s exchange nor any of its other pools or SafeMoon Wallet are affected.

The issue that was used in this attack appears to have been caused by a recently released upgrade.

The public burn() method, which allowed any user to burn tokens from any other address, was exploited by the attacker. To artificially increase the price of SFM, the attacker utilized this function to extract SFM tokens from the SFM: BNB liquidity pool revealed Dappd CEO “DeFiMark” on Twitter.

“The attacker was able to wipe out the last of the WBNB in the liquidity pool by selling SFM into this LP at a wildly inflated price in the same transaction.

It’s noteworthy to notice that the guy who first claimed responsibility for the assault now appears to be apologizing and requesting payment in exchange for carrying it out. It’s also conceivable that this is just a delaying tactic being employed to conceal the stolen cryptocurrency.

In 2022, Kaspersky noticed 5,040,520 crypto phishing detections

According to Kaspersky, crypto phishing was discovered 5,040,520 times in 2022, up from 3,596,437 times in 2021. This data is consistent with an earlier this year examination by Kaspersky into the dangers of cryptocurrencies, which included a survey in which every sixth respondent said they had experienced crypto phishing.

In 2022, 5 million cryptocurrency-related phishing assaults were thwarted by Kaspersky’s anti-phishing technologies, a 40% increase from the year before. On the other hand, classic financial risks including banking and mobile financial malware were less frequently detected. The most recent Kaspersky financial risks report contains these and other discoveries.

I am Vishal. I post articles about the cryptocurrency markets. I'm pursuing a BBA degree. My home is in Navi Mumbai, Maharashtra.I'm constantly interested in new advancements in this industry and I learn something new about it every day. I would love to share such information with you all.

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