Concerns are being voiced within the crypto community regarding a notable increase in phishing emails containing crypto-related content. The origin of these deceptive emails is reported to be the widely-used content creator platform Patreon.
As per information gathered from social media platforms such as X and Reddit, scammers are engaging in the practice of registering users’ email addresses for Patreon accounts. Subsequently, these compromised accounts are being exploited to dispatch malicious emails that promote fraudulent crypto projects.
The initial reports of these phishing activities surfaced on January 23, with affected users recounting instances of receiving deceptive airdrop offers from Patreon creators. These perpetrators are posing as well-known cryptocurrencies like Chainlink (LINK) and Solana (SOL).
Expressing frustration, a user took to social media, addressing PatreonSupport and questioning when action would be taken to address the issue of crypto scammers creating accounts with others’ emails and inundating them with spam.
Patreon Says it Has Addressed the Issue
Acknowledging a user’s concern, Patreon Support confirmed the resolution of the reported issue. The platform detailed that the incident stemmed from a blend of email verification challenges and subsequent actions by a crypto account falsely posing as a Patreon creator. Assurances were given that affected accounts were being addressed and the situation rectified.
Despite these assurances, users on X reported continued receipt of scam emails post the proclaimed fix. On January 28, Reddit user “PhaseEquivalent3529” disclosed deleting six Patreon emails alluding to a ‘Manta’ airdrop. Another user, “fdlowe,” expressed doubt about the effectiveness of the added protections implemented by Patreon.
Persistent phishing scams pose a notable threat to the crypto community. According to blockchain security platform Scam Sniffer, over 324,000 cryptocurrency users succumbed to phishing scams in 2023, resulting in a collective loss of $295 million.
As scams targeting crypto users become more frequent and sophisticated, it is imperative for individuals to stay vigilant and adopt best practices to safeguard their assets and personal information. Recommended measures include verifying email legitimacy, exercising caution with suspicious requests, and utilizing two-factor authentication to mitigate the risks of phishing attacks.
2023 Sees Decline in Hacking Incidents
Despite experiencing losses of approximately $2 billion due to crypto thefts, 2023 witnessed a marginal reduction in hacking incidents targeting the cryptocurrency sector.
As per a recent report by De.FI, a prominent web3 security firm renowned for its REKT database, hackers successfully absconded with $2 billion in digital assets over the course of the year. Although this figure remains alarming, it signifies the initial decrease in crypto hacking incidents since 2021.
The REKT database categorizes the most impactful crypto hacks, spanning from the significant breach of the Ronin network in 2022—where hackers plundered over $600 million in crypto—to the recent attack on Mixin Network, resulting in a haul of approximately $200 million.
De.FI emphasized in its report that this cumulative amount of stolen funds, occurring across multiple incidents, underscores the persistent vulnerabilities and challenges within the decentralized finance (DeFi) ecosystem.
