Staggering $47M Stolen In Crypto By Bitcoin, Dogecoin And Shiba Inu Phishers In February, Targeting 57K Victims On Elon Musk's X
Portfolio Pulse from Benzinga Neuro
In February, crypto phishers stole $47 million, mainly through fake accounts on Elon Musk's X, targeting Bitcoin, Dogecoin, and Shiba Inu users. Over 57,000 victims were affected, with Ethereum mainnet and ERC-20 tokens being the primary targets. Despite more victims, the total stolen amount decreased from January. High-profile accounts, including MicroStrategy's, were hacked, contributing to the losses. The first two months of 2024 saw $104 million lost to phishing, with Ethereum users suffering $78 million of those losses. The U.S. saw a 53% increase in cryptocurrency scam losses in 2023, totaling $3.94 billion.
March 12, 2024 | 7:54 am
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NEGATIVE IMPACT
Bitcoin was one of the cryptocurrencies targeted by phishers in February, leading to significant financial losses.
The direct targeting of Bitcoin by phishers and the substantial amount stolen indicate a negative short-term impact on Bitcoin's perception and potentially its price, as it highlights security vulnerabilities.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
Dogecoin was specifically mentioned as a target in the phishing scams, contributing to the overall losses in the crypto community.
Dogecoin being a direct target of the phishing scams suggests a negative short-term impact due to increased security concerns among holders and potential reputational damage.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Shiba Inu was among the cryptocurrencies targeted by phishers, affecting its community and contributing to the total losses.
The targeting of Shiba Inu by phishers can negatively impact its short-term price and investor confidence due to the highlighted security risks and financial losses.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80