Grand Base

Ethereum

Uniswap

Base

April

<p class="is-style-lead">Coinbase’s Base chain appears to be a target for scammers, with two of the top 10 largest single thefts occurring on the network, accounting for over 20% of the month’s total theft.</p> 
<p>Although crypto hacks saw a decrease in April compared to previous months, some networks are experiencing a surge in scam activity as scammers explore new avenues to lure victims onto new platforms. According to <a href="https://twitter.com/realScamSniffer/status/1787417269636915220" target="_blank" rel="">data</a> from Scam Sniffer, Coinbase’s <a href="https://crypto.news/tag/base/" target="_blank" rel="">Base</a> network, built on top of the <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="">Ethereum</a> blockchain, witnessed a 145% surge in scam activity in April.</p> 
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   <p lang="en" dir="ltr">🧵 [2/6] Despite the overall decline, theft on the Base chain saw a substantial increase of 145% from the previous month.<br><br>Notably, 2 of the top 10 largest single thefts occurred on this chain, accounting for 21% of the month's total theft. <a href="https://t.co/kTwteJNhJu" target="_blank" rel="">pic.twitter.com/kTwteJNhJu</a></p>— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) <a href="https://twitter.com/realScamSniffer/status/1787417290176430476?ref_src=twsrc%5Etfw" target="_blank" rel="">May 6, 2024</a>
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<p>According to the blockchain intelligence firm, the Base network witnessed a nearly 1,900% surge in scammer activity since January, with approximately $170,000 stolen due to phishing scams. In April alone, nearly 90% of the stolen assets were ERC-20 tokens, the standard for tokens on the Ethereum network. Common phishing signatures such as Permit, IncreaseAllowance, and Uniswap Permit2 were responsible for significant losses, Scam Sniffer says.</p> 
<p> You might also like: <a href="https://crypto.news/lazarus-group-hackers-launch-new-method-for-cyber-attacks/" rel=""> Lazarus Group hackers launch new method for cyber attacks </a> </p> 
<p>Despite the decline in crypto attacks in April, marking the first <a href="https://crypto.news/losses-from-crypto-hacks-drop-67-to-60m-in-april/" target="_blank" rel="">significant decrease</a> in 2024, large incidents still occurred. The largest hack involved Hedgey Finance, a token infrastructure platform, losing approximately $47 million worth of crypto. The second-largest hack targeted the Fix Float exchange, resulting in the theft of $3 million worth of crypto due to a vulnerability in a third-party service provider. The third-largest attack on Grand Base enriched hackers with $2.67 million.</p> 
<p>In total, more than $401 million was stolen due to <a href="https://crypto.news/tag/hack/" target="_blank" rel="">hacks</a>&nbsp;and&nbsp;<a href="https://crypto.news/tag/rug-pull/" target="_blank" rel="">rug pulls</a> since&nbsp;the beginning of the year, a 25.1% decrease compared to the same period last year, when more than $536 million worth of hacks occurred, according to&nbsp;<a href="https://assets.ctfassets.net/t3wqy70tc3bv/2FlKal41QbUO206gQAcNOr/43ccdf6d0aed156a5d22320d7ab702bb/Immunefi_Crypto_Losses_In_April_2024.pdf" target="_blank" rel="">Immunefi</a>.</p> 
<p> Read more: <a href="https://crypto.news/certik-damage-from-hacks-scams-reaches-lowest-level-since-2021/" rel=""> CertiK: Damage from hacks, scams reaches lowest level since 2021 </a> </p>

Crypto hacks on Coinbase’s Base chain rose by 145% in April, data shows

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