Crypto Phishing Losses Surge 72%, Hitting $12 Million in August

A concerning trend has emerged in the crypto world as phishing attacks have skyrocketed, reaching a staggering $12 million in losses during August. According to ScamSniffer, the cybersecurity firm responsible for uncovering these scams, this represents a 72% increase compared to July’s figures. A significant factor contributing to this surge is the targeting of Ethereum, with its popularity as a prime target for fraud schemes. This report highlights the escalating threat of cybercrime in the crypto market and underscores the critical need for enhanced security measures across digital asset platforms.