Crypto Phishing Scams Claim Over $12 Million in August: Tips to Stay Safe
Phishing scams, attacks disguised as legitimate communication or websites designed to steal funds and sensitive information, cost crypto users over $12 million in August, up 72% from July, Web3 anti-scam service Scam Sniffer reported on Saturday.
Crypto phishing scams impacted 15,230 victims in August, a 67% increase from July, with the single largest loss costing one user over $3 million, according to Scam Sniffer.
The Scam Sniffer team also noted a “sharp escalation” in EIP-7702 signature scams. EIP-7702 is an Ethereum improvement proposal that allows Externally Owned Accounts to act as smart contract wallets that can execute transactions and shift funds.
