Crypto phishing losses dropped 56% to $10.2m: ScamSniffer

Phishing scams drained over $10.2 million in crypto from more than 9,000 victims in January, a 56% drop from December, data shows.

While phishing losses fell 56% in January to $10.25 million, new threats are spreading fast, according to latest findings reported by blockchain firm ScamSniffer.

In a Feb. 3 thread on X, the firm revealed that more than 9,200 victims lost funds last month. “Transaction simulation spoofing,” a scam tricking users into signing fake transactions, has cost victims hundreds of thousands in a single attack. For instance, one user lost 143.45 in Ethereum (ETH) (around $461,000) in just one day due to such scam attack

Malware is blowing up fast too. ScamSniffer says Telegram “Fake Safeguard” scams have skyrocketed over 2,000% since November 2024. Moreover, Solana users aren’t safe either as scammers are using fake Phantom wallet popups to steal seed phrases, the secret keys that unlock full control of a crypto wallet.

Meanwhile, fake accounts are also popping up — over 300 a day, twice as many as in November. As crypto.news reported earlier, scammers are even taking over big X accounts like Yahoo News UK and Lenovo India to push bogus tokens.

Blockchain sleuth ZachXBT previously warned users to revoke app permissions for their non-custodial wallets if they interacted with suspicious websites. ScamSniffer also advises victims to contact recovery services but warns against “recovery experts,” who promise 100% returns as they are just the same scammers looking to steal even more money.