Crypto Community Lost Staggering $104M In Bitcoin, Dogecoin, Shiba Inu Phishing Scams In 2024: Ethereum Users Hit The Hardest
Portfolio Pulse from Benzinga Neuro
In the first two months of 2024, the cryptocurrency community suffered $104 million in losses due to phishing scams, with Ethereum users experiencing the majority of these losses, totaling $78 million. The security firm Scam Sniffer reported that around 97,000 users fell victim to these scams, which often involved users being tricked into revealing sensitive information through phishing websites linked from impersonated Twitter accounts. This continues a trend of increasing losses to crypto scams, with Americans losing $3.94 billion in 2023, a 53% increase from the previous year.
March 11, 2024 | 8:56 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Bitcoin, along with other cryptocurrencies, continues to be targeted by cybercriminals, with Americans losing $3.94 billion to crypto scams in 2023.
The ongoing targeting of Bitcoin by cybercriminals, as evidenced by the substantial losses in 2023, could contribute to a negative perception among investors, potentially affecting Bitcoin's price in the short term due to concerns over security and the increasing sophistication of scams.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Dogecoin, mentioned in the context of significant losses to crypto scams in 2023, continues to face challenges from cybercriminal activities.
The mention of Dogecoin in the context of significant financial losses to crypto scams highlights the vulnerability of its ecosystem to cybercriminal activities. This could lead to short-term negative sentiment among investors, potentially affecting Dogecoin's price.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Ethereum users suffered the most in the recent phishing scams, with losses amounting to $78 million in the first two months of 2024.
The significant loss experienced by Ethereum users due to phishing scams directly impacts the perception of security and trust in the Ethereum ecosystem. This could lead to short-term bearish sentiment among investors and users, potentially affecting the price negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Shiba Inu is also affected by the increasing trend of crypto scams, with significant losses reported in 2023.
Shiba Inu's mention in the context of the broader trend of increasing losses to crypto scams suggests a continued risk to its ecosystem from cybercriminal activities. This could negatively impact investor sentiment and Shiba Inu's price in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70