Ah, cryptocurrency wallet providers! They’re getting more sophisticated, like a fine wine that’s been aged in a barrel of bad decisions. But wait! So are the bad actors! It’s like a never-ending game of ‘cat and mouse’—except the mouse is armed with a credit card and the cat is, well, a cat that’s just discovered the joys of online scamming. 🐱💳
“It will always be a cat and mouse game,” said Ian Rogers, the chief experience officer at Ledger, while probably eyeing his own wallet with suspicion. He told CryptoMoon that it’s a constant race between crypto wallet firms adding new security features and hackers finding even more advanced ways to access victims’ wallets. It’s like watching a really bad reality show where no one wins. 🎭
Rogers lamented that the simplest scams are the most effective because, let’s face it, people are just one click away from handing over their life savings. “People give their 24-word phrases to people every day,” he said, as if he were discussing the weather. “So as long as that happens, they’re going to go for the low-cost tax.”
“Anyone who asks for your 24 words is a criminal.”
Rogers pointed out a common crypto scam where victims are lured in by replies under “any post on Twitter about crypto,” with messages like “DM me, and I’ll help you.” Because who wouldn’t want help from a stranger on the internet? It’s like asking a raccoon for advice on how to store your trash. 🦝
“You know that scammers are always asking you for your 24 words,” Rogers said, as if he were revealing the secret ingredient to grandma’s famous cookies. CertiK’s chief business officer, Jason Jiang, recently told CryptoMoon that being aware of phishing attacks on social media can drastically increase a user’s crypto security. Who knew? Awareness is the new black! 🖤
Sometimes, scammers hijack the accounts of well-known industry figures to post malicious links, making it even harder for users to spot the scam. In September 2023, Ethereum co-founder Vitalik Buterin’s account was compromised, leading to a fake NFT giveaway that tricked followers into clicking—only to drain over $691,000 from their wallets. Oops! Talk about a costly click! 💸
Rogers emphasized that this will always be the case, just as bad actors aren’t limited to crypto. Scams like fake emails from the “Nigerian president” have been around for years. It’s like a classic rock song that just won’t die. 🎸
“The cost of the attack is always commensurate with the size of the prize, right?” Rogers mused. In 2024, crypto hacks jumped 15% from 2023, with over $3 billion stolen. That’s a lot of money for a game of cat and mouse, don’t you think?
Meanwhile, pig butchering scams have emerged as one of the most pervasive threats to crypto investors, with losses on the Ethereum network costing the industry $5.5 billion across 200,000 identified cases in 2024. Yes, you heard that right—pig butchering! It’s a type of phishing scheme that involves prolonged and complex manipulation tactics to trick investors into willingly sending their assets to fraudulent crypto addresses. Because who doesn’t want to be part of a scam that sounds like a bad episode of a cooking show? 🐖🍽️
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2025-03-23 05:41