Prisma Finance

Base

Ethereum layer 2 Base has seen an 18-fold increase in cryptocurrency funds stolen from phishing scams in March compared to January figures, recent data shows.
Approximately $3.35 million was stolen from phishing scammers on Base in March alone, <a href="https://dune.com/scam-sniffer/march-2024-scam-sniffer-phishing-report" target="_blank" rel="noopener nofollow">according</a> to blockchain anti-scam platform Scam Sniffer.
It marks a 334% month-on-month increase from <a href="https://dune.com/scam-sniffer/february-2024-scam-sniffer-phishing-report" target="_blank" rel="noopener nofollow">February</a>’s&nbsp;tally of $773,900 and a massive 1,880% spike compared to <a href="https://dune.com/scam-sniffer/january-2024-crypto-phishing-report" target="_blank" rel="noopener nofollow">January</a>,&nbsp;when Base only lost $169,000 from phishing scams, according to monthly Dune Analytics data compiled by Scam Sniffer.
Binance’s BNB Smart Chain observed a similar surge in phishing scams in March, Scam Sniffer <a href="https://x.com/realScamSniffer/status/1774963886565056995" target="_blank" rel="noopener nofollow">noted</a> in an April 2 X post.
Approximately $71.5 million was lost to phishing scammers across all chains from 77,529 victims — beating out January and February’s tallies of $58.3 million and $46.8 million, respectively.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-04/d1af9b7b-823c-4a67-a7e8-95b8af6463f8.png">
 <figcaption style="text-align: center;">
 Source: Scam Sniffer
 </figcaption>
</figure>
Scam Sniffer told Cointelegraph it expects even more phishing attacks on Base this month as assets and active users on the chain continues to increase.
Scam Sniffer <a href="https://x.com/realScamSniffer/status/1774963922514346423" target="_blank" rel="noopener nofollow">noted</a> that phishing links from fake X accounts remain a “primary tactic,” detecting over 1,500 incidents in March.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/8b73b3db-ea0a-41de-895f-eaadece40776.png" alt="" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/realScamSniffer/status/1774963922514346423" target="_blank" rel="noopener nofollow">Scam Sniffer </a>
 </figcaption>
</figure>
The rise in Base phishing scams comes amid a&nbsp;<a href="https://cointelegraph.com/news/coinbase-network-base-tvl-doubles-month-memecoins-drive-adoption">recent memecoin craze on the Coinbase-backed chain</a>. It has helped push Base’s total value locked above $3.2 billion — marking a 370% increase so far in 2024, <a href="https://l2beat.com/scaling/projects/base" target="_blank" rel="noopener nofollow">according</a> to L2Beat.
Cointelegraph reached out to Scam Sniffer for comment.
<h3 id="phishing-scams-may-be-up-but-hacks-are-down">Phishing scams may be up, but hacks are down </h3>
The surge comes despite crypto hack thefts falling 48% to $187.2 million in March, <a href="https://x.com/PeckShieldAlert/status/1774701695895027920" target="_blank" rel="noopener nofollow">according</a> to an April 1 X post from blockchain security firm PeckShield.
Related: <a href="https://cointelegraph.com/news/crypto-hacking-incidents-decline-in-q1-2024-immunefi">Crypto hacking losses decline in Q1 2024 — Immunefi</a>
The figure took into account the $98.8 million that was recovered over the month.
Almost all of those recoveries came from the $97million Munchibles exploit. Cryptocurrency sleuth ZachXBT was among those <a href="https://cointelegraph.com/news/zachxbt-onboarded-custodian-return-funds-defi-exploit">onboarded as a custodian</a> to recover the stolen funds.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/a4f0b219-9501-4fd6-b0e6-a51cc647d934.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 Total losses from hacks in March. Source: PeckShield
 </figcaption>
</figure>
Meanwhile, <a href="https://cointelegraph.com/news/curio-smart-contract-exploit-hacker-mints-1-billion-tokens">Curio’s MakerDAO-based smart contract</a> lost $40 million, <a href="https://x.com/PeckShieldAlert/status/1774701695895027920" target="_blank" rel="noopener nofollow">according</a> to updated figures from PeckShield and Prisma Finance <a href="https://cointelegraph.com/news/prisma-finance-exploited-10-million">fell victim to an $11.6-million hack</a>. The firm is currently <a href="https://cointelegraph.com/news/prisma-finance-540k-still-at-risk-hack-exploit-smart-contract">negotiating with the hacker</a> on-chain to return those funds. 
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/seal-911-team-white-hat-forms-fight-crypto-hacks-real-time/">‘SEAL 911’ team of white hats formed to fight crypto hacks in real time</a>

Phishing scam thefts on Base are up 1,900% from January — Scam Sniffer

Innehållsförteckning

Cointelegraph

Andra artiklar publicerade 2 apr. 2024

STEPN’s GMT drops 10% amid reports of alleged token sale by Binance Labs

Revolutionizing Data Monetization: Inside Look at Launch of PrivateAI on DAO Maker

As Binance Coin (BNB) and Ripple (XRP) Seek Stability Koala Coin (KLC) Presale Shines Bright with...

Why Solana Meme Coins Razed Down The Most On April 2

Significant Drop in Cryptocurrency Prices

Bitcoin Cash Investors Contemplate Sales as Market Signals Emerge

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!