Crypto Scammers Run Rampant: Discord and Twitter Hacks Spark $6.4 Million in Losses

Social media platforms have become both a boon and a bane for the crypto community. While they offer a space for enthusiasts to share insights and connect, they have also become fertile grounds for scammers peddling deceit. The recent onslaught of fake airdrop messages flooding these platforms has sent shockwaves through the crypto sphere.

Reports have surfaced, highlighting the compromise of popular Discord channels and bots by malicious actors. These hackers employ clever tactics, bombarding members with enticing token airdrop messages. However, beneath the façade of generosity lies a treacherous web of phishing links, leading unsuspecting victims to malicious domains that swiftly drain their cryptocurrency wallets. What's more alarming is the evolution of these scams, with threat actors increasingly employing deepfakes and AI-generated videos to enhance their deceptive allure.

#CertiKSkynetAlert ????

Since last Friday we recorded 12 incidents resulting in ~$6.4M in losses.

So far 5 Discord Hacks, 1 Phishing attack and 1 Twitter Hack.

Stay vigilant & #DYOR! pic.twitter.com/KE9F7R7JjP

— CertiK Alert (@CertiKAlert) September 22, 2023

Notably, this wave of crypto scams isn't limited to Discord and Twitter. Just last week, TikTok was inundated with fake 'Elon Musk' Bitcoin giveaways. In one audacious instance, scammers circulated a deepfake video featuring Musk supposedly granting Bitcoin to the masses during a Fox News interview. Sadly, these giveaways, like countless others, diverted users to phishing sites, adding to the growing tally of crypto losses

I got a DM on Discord for hiring, it all kind of looks real but I quickly found out it was a scam and logged him out of my discord before he took over, Yall be careful; some jobs might be real tho but most of them are just in your dm to hack you.#WEB3 #nft #crypto #hiring pic.twitter.com/yl6D0MPhcl

— INVESTORADESAM (AEDDON.COM)????????| Full Force (@INVESTORADESAM0) September 15, 2023

CertiK, a web3 security firm, paints a bleak picture of the current landscape, with their data revealing a distressing surge in phishing campaigns. Their statistics show that monthly losses stemming from phishing attacks skyrocketed to a staggering $136.8 million by August, doubling the figure from the previous year.

This alarming rise in phishing campaigns underscores the urgent need for crypto holders and traders to exercise extreme caution when navigating the digital realm. With their digital assets at stake, users must remain vigilant in the face of ever-evolving cyber threats.

Why do we talk about phishing attacks so much?

Well, the numbers speak for themselves ????

Get informed, stay safe. pic.twitter.com/ijeBFg45WX

— CertiK (@CertiK) September 21, 2023

In the battle between crypto enthusiasts and cybercriminals, the stakes have never been higher. Discord and Twitter hacks serve as stark reminders that, in this digital age, vigilance is paramount. As the cryptocurrency community forges ahead, it must do so with a keen eye, cautious steps, and an unwavering commitment to safeguarding its investments. The road ahead may be treacherous, but with knowledge and prudence, it's a path that can be navigated successfully, ensuring that the promise of crypto remains intact for all who believe in its potential.

Read more: APECoin DAO's $12.5 Million Leap Into the Digital Art World: A Game-Changer for APE Token Holders