February witnessed a staggering surge in personal crypto scams, with around 57,000 individuals falling prey to them, resulting in a collective loss of approximately $47 million, as reported by Scam Sniffer.
During the period under review, numerous individuals, predominantly Ethereum mainnet users, fell prey to multiple phishing attempts.
$47 Million in Crypto Stolen in February
According to Scam Sniffer’s findings, the victims, totaling 57,066, were ensnared in crypto phishing scams during the month. The attackers managed to siphon off $46.86 million from these crypto investors while masquerading as legitimate entities on various social media platforms, including X (formerly Twitter).
Notably, the overall number of victims who lost more than $1 million decreased by 75% compared to January. However, a substantial phishing theft of $6.2 million occurred on February 15, marking the largest single-day loss.
Across chains, Ethereum mainnet users bore the brunt, accounting for 78% of the total exploits throughout the month. A breakdown of the attacks shows that Ethereum-based thefts amounted to $36.2 million from 25,029 victims.
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Author: Oluwapelumi Adejumo
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