Friday, December 8, 2023

As phishing assaults nearly quadruple, social media has become “major Web3 pain point”.

Hackers have recently increased their activities as more and more people start using the Web3 platforms and applications. In the recent 2022 quarter, the number of phishing attacks has increased significantly. Social media has become a major place for conducting these hacks.

The CertiK security team in its quarterly report found that phishing attacks have increased by 170% in this year’s second quarter. The first quarter recorded 106 attacks while the next quarter saw 290 events, according to this report.

The security firm reported that most of these attacks have been carried out through social platforms like Telegram and Discord. These platforms do not have any account verification system like the one found at platforms like Twitter. Lack of this verification allows individuals with malicious intents to hack the accounts of prominent individuals and projects. This takeover helps them offer giveaways and scam people.

According to CertiK, the hackers exploit human errors to conduct these attacks. It advised for community education to tackle this problem. The report suggests community members should be educated on the measures they can take to avoid the scams and hacks. People must be vigilant about phishing attacks.

Scammers earlier this week hacked British Army’s social accounts. The attackers distributed crypto scams, fraudulent NFT ads and fishing links using these official accounts. The officials recovered accounts and deleted the hacker posts a few hours after the hack.

Attackers had taken over the Instagram account of BAYC in April and stole its NFTs. Experts estimate the company lost $40M worth of digital assets in this attack.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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