Crypto phishing assaults increased by 40% in one year, according to Kaspersky

Kaspersky, a Russian cybersecurity and anti-virus company, identified 5,040,520 crypto-phishing attacks in the year, compared to 3,596,448 in 2021.

The Russian cybersecurity and anti-virus company Kaspersky reported a 40% year-over-year increase in cryptocurrency phishing attacks. The company identified 5,040,520 crypto-phishing attacks in contrast to 3,596,448 in 2021.

A typical phishing attack entails impersonating legitimate websites and communication channels in order to lure investors. Users are then prompted to disclose private information such as private keys, granting assailants unauthorized access to crypto wallets and assets.

Although Kaspersky could not predict whether or not the trend would increase in 2023, phishing attacks continue to gain ground in 2023. Trezor, a provider of hardware cryptocurrency wallets, warned in March against attempts to pilfer users’ cryptocurrencies by duping investors into inputting their recovery phrase on a false Trezor website.

In 2022, one in seven respondents to a survey conducted by Kaspersky acknowledged having fallen victim to cryptocurrency phishing. While most phishing attacks involve gifting schemes or false wallet phishing pages, the strategies of attackers continue to evolve.

According to Kaspersky, “crypto remains a symbol of getting rich quickly with minimal effort,” which encourages fraudsters to invent new techniques and stories to deceive unwary crypto investors.

Recently, investors in Arbitrum were exposed to a fraudulent link via the company’s official Discord server. A hacker reportedly compromised one of Arbitrum’s developers’ Discord accounts, which was then used to distribute a false announcement containing a fraudulent link.

Cointelegraph discovered that the malware link directs users to a vacant website containing the text “Astaghfirullah,” which translates to “I seek forgiveness in God.” The term can also be used to express disbelief, according to Wiktionary.

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