Kaspersky reports Crypto phishing attacks up by 40% in one year. According to research from the cyber security firm, crypto phishing attacks increased during 2022, with 5,040,520 discovered compared to 3,596,437 in 2021.
- Kaspersky has revealed a 40% year-on-year increase in cryptocurrency phishing attacks in 2022.
- The data shows a surge in 2022, with over 5 million attacks recorded compared to 3.5 million in 2021.
Phishing attacks involve reaching out to investors using phony websites and communication channels that imitate real companies and pushing users to disclose personal information such as private keys, giving attackers undue access to crypto wallets and assets.
Kaspersky is a Russian cybersecurity company behind popular anti-virus products. Its primary mission is to protect internet users from all potential risks in their homes and companies through various premium products and services.
According to the firm’s analysis, crypto phishing attacks have increased by 40% in just one year. The research illustrates the rising tendency of digital asset exploits targeting crypto investors and users to steal their assets during 2022, with 5,040,520 attacks detected compared to 3,596,437 in 2021.
For the time being, the company cannot determine if the trend will continue to climb in 2023. However, considering the recent attacks in the digital asset space, some of which include:
- Lending Protocol Hundred Finance suffered a $7M loss on Optimism.
- Crypto exchange Bitrue suffers a $23M hack due to a hot wallet exploit.
- SushiSwap DEX was exploited For $3.3M.
- GDAC was hacked for over $13 million in digital assets.
It’s only natural that these hacks may surge even further in the coming years. Furthermore, Kaspersky researchers revealed that these assaults are growing more sophisticated and difficult to detect.
Attackers frequently utilize fake emails, messages, or websites that closely mimic authentic ones in order to steal the victim’s digital assets or use their personal information for illicit purposes. Some cybercriminals utilize social engineering techniques to gain access to users’ wallets and steal their assets.
Trezor, a hardware digital asset wallet provider, is a famous example. On February 28, 2023, the company took to Twitter to report some strange actions within its system and warn consumers to be wary of the fake Trezor website that prompts them to enter their recovery key.
Kaspersky recommended investors take the required safeguards against these attacks, such as enabling two-factor authentication and password managers, as well as keeping their software and operating systems up to date.
As cryptocurrency phishing attacks increase, attackers’ techniques for luring naive crypto investors evolve. Investors must use extreme caution. Furthermore, businesses must prioritize security measures and educate their consumers in order to help prevent and reduce the effects of Bitcoin phishing attempts.
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Caleb is a technical writer at AlteBlock with over 2 years of experience in covering DeFi-related content such as crypto news, exchange reviews, and guides. He is also a Civil engineering graduate who can be found on-site when not writing an article.