ScamSniffer
New Web3 attack exploits transaction simulations to steal crypto
Threat actors are employing a new tactic called “transaction simulation spoofing” to steal crypto, with one attack successfully stealing 143.45 Ethereum, worth approximately $460,000. The attack, spotted by ScamSniffer, highlights a flaw in transaction simulation mechanisms used in modern Web3 wallets, meant to safeguard users from fraudulent and malicious transactions. How the attack works Transaction simulation […]
Cryptocurrency wallet drainers stole $494 million in 2024
Scammers stole $494 million worth of cryptocurrency in wallet drainer attacks last year that targeted more than 300,000 wallet addresses. This marks a 67% increase over 2023 figures although the number of victims only rose by 3.7%, indicating that victims held more significant amounts on average. The data comes from web3 anti-scam platform ‘Scam Sniffer,’ […]