Report Reveals Alarming 40% Increase in Digital Asset Phishing Scams in 2022

Report Reveals Alarming 40% Increase in Digital Asset Phishing Scams in 2022

As per the latest report by Kaspersky, a cybersecurity firm, there has been a significant increase of 40% in digital asset phishing scams in 2022. This report highlights the growing trend of digital asset exploitation that targets crypto investors and users to steal their holdings throughout the year. While traditional methods like giveaway scams or fake wallet phishing pages are still prevalent in most cryptocurrency scams, attackers are continuously refining their tactics. 

About the Report

As per Kaspersky’s report, there was a noteworthy surge in digital asset phishing endeavors in the previous year, with over 5 million instances detected, in contrast to the 3.6 million from the preceding year. The organization hypothesizes that this escalation can be partly linked to the unsettling occurrences that took place in the crypto market during this period. Kaspersky also highlights that about 1 in 7 digital asset investors became prey to digital asset phishing attacks.

The report provides insight into the significant changes in the financial threat landscape for the year 2022. Although there has been a decrease in traditional financial malware attacks, phishing attacks have experienced a surge in numbers. This shift is largely attributed to the growing popularity of cryptocurrencies and the increasing number of investors in this space.

Precautionary Measures 

To protect oneself from digital asset phishing scams, Kaspersky recommends several precautionary measures. These include,

  • Implementing two-factor authentication
  • Avoiding clicking on links in unsolicited emails or messages
  • Utilizing a trusted antivirus program. 

Additionally, users should exercise caution when entering login credentials on websites and always verify the authenticity of the website before sharing sensitive information.

Despite the obstacles encountered by the cryptocurrency market in the past six months, there are still individuals who perceive it as an avenue to earn a fast profit with minimal effort. As a result, the number of scammers taking advantage of this industry persists, as highlighted by Kaspersky’s security specialist, Olga Svistunova.