Cryptocurrencies

Investor Swindled out of $100K in Crypto Phishing Scheme

According to a recent report by PeckShield, a blockchain security firm, an investor fell victim to a phishing scam and lost over $101,000 across various cryptocurrencies and blockchains. The sophisticated nature of the scam involved targeting tokens from the Osaka protocol and other sources, resulting in the loss of a significant amount of cryptocurrency.

The compromised address lost a substantial number of OSAK and CAW tokens, along with smaller amounts of HIGH tokens, USDT, USDC, PENDLE, and WBTC. Despite these losses, the victim still holds $7,000 in various cryptocurrencies. The method used by cybercriminals involved exploiting the multi-call function to deceive users into signing what appeared to be legitimate transactions, transferring funds directly to the scammer’s addresses.

The attacker’s wallet now holds around $220,000, revealing the substantial amount obtained from multiple victims. While phishing attacks in the cryptocurrency space have decreased this year, their impact remains significant. Heightened security measures and increased user awareness are crucial to combatting these sophisticated phishing schemes that continue to target unsuspecting investors. Stay vigilant and verify the authenticity of transactions to avoid falling victim to these common cyber threats.

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