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Home»TRADING NEWS»How can I protect my cryptocurrency?
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How can I protect my cryptocurrency?

By Crypto FlexsMarch 18, 20243 Mins Read
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How can I protect my cryptocurrency?
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A fraudster impersonating well-known cryptocurrency influencer Ansem stole over $2.6 million in Solana tokens (SOL). The scam unfolded on

Amid the craze for meme coins promising quick profits, investors must be careful not to fall victim to scammers.

On-chain detective ZachXBT, reported This bold robber. A scammer impersonating Ansem advertised a fake ‘BULL’ token pre-sale in response to Ansem’s legitimate tweet. This elaborate scheme resulted in significant losses, with the largest victim losing nearly $1.2 million.

Even after ZachXBT’s post, cryptocurrency scammers stole Over $250,000. Especially scammers Continue Other accounts work the same way.

“$2.6 million was transferred to your account? “Why would someone send tokens to such an account when it only takes a few lines of code to implement a sales smart contract?” X user Robert Sasu wrote.”

Read more: Who is ZachXBT, the Crypto Sleuth Exposing the Scam?

Phishing posts from cryptocurrency scammers. source: X (Twitter)

This scam occurred while the Book of Meme (BOME) token was rising rapidly. BOME, a meme coin on the Solana blockchain, quickly gained attention, especially after being listed on Binance.

Scam Sniffer reported that 57,000 people fell victim to cryptocurrency scams in February, resulting in total losses of around $47 million. Primarily, these scams were phishing attacks launched on social media platforms.

The Ethereum mainnet was most affected, with users losing 78% of all stolen funds. In particular, Ethereum-based ERC20 tokens accounted for most of the $40 million loss.

Despite a 75% decline in personal losses of more than $1 million, significant theft occurred in February, reaching $6.2 million per day.

The tactics used by scammers are becoming increasingly sophisticated. They often impersonate verified accounts of cryptocurrency entities on social media, especially X. Phishing signatures such as Permit, IncrementAllowance, and Uniswap Permit2 are among their techniques.

In addition, the number of fraud victims increased by more than 10,000 in just one month. However, the overall amount stolen decreased slightly. This trend indicates that the threat of phishing attacks is increasing in the cryptocurrency ecosystem.

Read more: 15 most common cryptocurrency scams to watch out for

Investors should exercise caution, especially during periods of active market activity. To avoid becoming a victim of such scams, it is important to check the legitimacy of an investment opportunity.

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In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

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