Cryptocurrency scammers are increasingly leveraging phishing attacks to defraud unsuspecting victims, with Cardano (ADA) ranking among the top most targeted projects.
Within 90 days ending June 22, ADA was the third most phished crypto project recording 191 attacks, according to data shared with Finbold by VPN provider Atlas VPN.
Blockchain ranks top with 662 attacks, while Luno is second at 277. Poloniex and Magic Eden rank in the fourth and fifth spot with 72 and 67 attacks, respectively. Other notable phishing schemes targeted crypto exchange Binance, which recorded 59 incidents, and peer-to-peer trading platform Paxful with nine cases.
Notably, the scammers target crypto projects ranging from investment products to emerging products like non-fungible tokens (NFTs).
Crypto losses projected to surge
Amid the growing number of crypto attacks, the amount lost in different scams hit $329 million in the first quarter of 2022, with projections indicating the figure will likely surge....
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