Phishing Attacks Cost Nearly 295 Million USD in 2023

A 2023 report from security unit Scam Sniffer shows that a wave of phishing attacks stole $295 million from about 324 thousand victims.

Phishing Attacks Cost Nearly 295 Million Usd In 2023_65b97daaa80e0.webp

Phishing attacks cost nearly 295 million USD in 2023

According to a summary report by security unit Scam Sniffer, the wave of phishing attacks using the “Wallet Drainers” malware caused losses of nearly 295 million USD from about 324 thousand victims in 2023.

“Wallet Drainers” is the name of a type of malicious code capable of automatically taking assets in crypto wallets, often used by hackers on websites or social networking platforms such as Discord, Twitter ads, search results of Google,… for the purpose of performing phishing attacks to gain unjustified benefits.

🚨 Scam Sniffer’s 2023 Report is out! Nearly $300M stolen by phishing campaign targeting crypto wallets – affecting over 324K victims. 🕵️‍♂️

📈 Trends show no sign of slowing, as new drainers emerge to replace the old. Stay vigilant & informed:https://t.co/IncLeS7j2j

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) January 1, 2024

According to Scam Sniffer’s report, it is estimated that the scale and speed of phishing attack activities have grown continuously over the past year. It is worth noting that the source code and management tool “Wallet Drainers” are publicly sold by attackers on forums and programmer groups. In particular, the “Wallet Drainers” software is not only sold at a price but also imposes a 20% service fee.

Scam Sniffer listed 7 “Wallet Drainers” malware vendors in the report, including: Inferno Drainer, MS Drainer, Angel Drainer, Monkey Drainer, Venom Drainer, Pink Drainer and Pussy Drainer.

In this list, Inferno Drainer stands out when it announced its shutdown. Even though it was only 9 months old, it caused losses of up to 81 million USD to 134,000 users. MS Drainer and Angel Drainer, both also founded in March 2023, caused a total loss of about $79 million to more than 93,000 users.

Not only income from selling “Wallet Drainer” software, Scam Sniffer also said the publishers earned at least $47 million from 20% service fees.

phishing attacks cost nearly 295 million usd in 2023 65b97daaab029

List of 7 “Wallet Drainer” malware vendors in Scam Sniffer’s 2023 report

Scam Sniffer also introduces different phishing methods that attackers commonly use, including hacking attacks on official Discord/Twitter accounts, front-end attacks, creating traffic websites access large users such as Airdrop NFT/Tokens, and use paid advertising on Twitter and from Google search results.

phishing attacks cost nearly 295 million usd in 2023 65b97daaad0d1

Phishing methods are often used by hackers to install “Wallet Drainer” malware.

In addition, the “Wallet Drainer” malicious code is also capable of being established through creating fake signatures on dApps browsers connecting Web3 wallets. When users authenticate transactions, fake transactions will immediately lead to the “exhaustion” of all crypto assets in their e-wallets.

phishing attacks cost nearly 295 million usd in 2023 65b97daaaf0b9

Some fake signatures that can install “Wallet Drainer” are listed by Scam Sniffer.

Scam Sniffer’s analysis determined that phishing sites are increasing steadily every month, and attackers are increasingly using sophisticated tactics to bypass security measures.

phishing attacks cost nearly 295 million usd in 2023 65b97daab103e

The number of phishing websites increases every month

Faced with the growing problem of phishing crime, Scam Sniffer continuously warns about famous “Wallet Drainers” and shares this information on social media platforms to increase awareness and knowledge of the public about fraud risks.

In 2023, they scanned nearly 12 million URL addresses, discovering about 145,000 malicious URLs. The company also provides a blacklist containing about 100,000 malicious domains, committed to creating a safe Web3 environment for billions of users.

Related: Orbit Chain Bridge was Hacked for 81.5 Million USD

Clearly, “phishing attacks” have become a convenient “doorway” for scammers to reach a large number of victims. They can choose specific targets to deploy continuous phishing campaigns, using tools at very low cost, but bringing profits of up to tens of millions of dollars in a short time.

In November 2023 alone, crypto attacks “stolen” $340 million in user assets on DeFi platforms. The entire crypto industry in 2023 will also lose up to 1.95 billion USD due to hacks and security attacks.

(100 votes)

5.0/5

(100 votes)

Latest

Us Seizes $15 Billion In Bitcoin, Hunts Cambodian Tycoon

News | Bitcoin | Editor Choice

US Seizes $15 Billion in Bitcoin, Hunts Cambodian Tycoon in World-Shaking Crypto Fraud Case

Global financial markets are reeling after the US Department of Justice unveiled what it calls the largest cryptocurrency fraud case in history, implicating Cambodian businessman Chen Zhi, chairman of Prince Holding Group.

Investors In Panic, Binance Flooded With Sell Orders

News | Altcoin | Editor Choice

Investors in Panic, Binance Flooded with Sell Orders

After a historic crash that wiped out more than $19 billion in market capitalization within hours, the crypto market is still struggling to recover. Fresh data from CryptoQuant reveals a deepening wave of pessimism across Binance, as traders rush to deposit funds and trigger massive sell orders.

How To Join The Brevis Airdrop

Airdrops | Editor Choice

How to Join the Brevis Airdrop

Join the Brevis Airdrop, the project has successfully raised $7.5 million and is now allowing users to earn Sparks points for upcoming token rewards.

Binance Launches $400 Million Relief Fund For Traders

News | Editor Choice | Policy & Regulations

Binance Launches $400 Million Relief Fund for Traders

Following one of the most dramatic downturns in recent crypto history, Binance has unveiled a $400 million relief program to support users who suffered heavy losses during Friday’s market collapse — despite emphasizing that the exchange “does not accept liability” for user losses.

Elon Musk Makes A U Turn, Backs Bitcoin As “energy Cannot Be Faked”

News | Bitcoin | Editor Choice

Elon Musk Makes a U-Turn, Backs Bitcoin as “Energy Cannot Be Faked”

Elon Musk has once again stirred up the crypto community after declaring his renewed support for Bitcoin, claiming its true value lies in “energy — the one thing that cannot be faked.”

Screenshot 2025 09 10 100533