Cryptocurrency hackers are increasingly looking for new bait on social networks

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The more people enter the web3 ecosystem, hackers have more and more opportunities to attack. The second quarter saw a significant increase in crypto-targeted phishing attacks against social networking sites, according to a new report.

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According to Web3 Security Q2 2022, 290 attacks were reported in the second quarter, up 170% from 106 in the first quarter. report by CertiK, a platform focused on blockchain and DeFi security sponsored by Goldman Sachs and others. The company told TechCrunch that while there are many small-scale phishing attacks (or attempts) against individuals on a daily basis, major attacks are classified as events that resulted in $100,000 or more of cryptocurrency losses.

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“Social media influences phishing attacks by providing a centralized single point of failure through which hackers can trick users into clicking on malicious links,” Rongui Gu, CEO and co-founder of CertiK, told TechCrunch. “This, in turn, results in users losing their assets.”

The second quarter was filled with “losses” and hacks across the entire web3 ecosystem – and many don’t expect it to slow down. The report says that more than $2 billion has been lost to hacks and exploits since the beginning of the year, half the amount in all of 2021.

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Credit: techcrunch.com /

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