Crypto fakes on X nearly doubled, reaching over 300 accounts daily

According to blockchain analysts, bad actors continue to increase crypto scams, with the number of impersonation accounts rising to over 300 per day.

Crypto scams on X are once again skyrocketing, with large accounts being hijacked to promote fake tokens. Victims have already lost millions and experts are warning users to be careful.

Analysts at blockchain firm Scam Sniffer warned in a Dec. 10 This increase increases the risk for users as scammers persist. leveraging high-profile accounts to push fraudulent schemes.

🚨 SCAM ALERT: Increase in X Impersonations 📈

Our monitoring system detected a significant increase in crypto fake accounts this week, with daily numbers reaching over 300 (compared to the November average of 160) 📊

⚠️ Two victims recently lost over $3 million due to clicking malicious links/signing transactions… pic.twitter.com/eGhG1GPX0r

— Fraud Detector | Web3 Anti-Scam Protection (@realScamSniffer) December 10, 2024

Analysts note that in one recent incident alone, two victims lost more than $3 million in cryptocurrency by interacting with malicious links and signing transactions linked to fake accounts. As Crypto.news previously reported, scams are especially common on Solana (SOL); Here the compromised accounts, including those of major organizations such as Yahoo News UK, Lenovo India and Money Control, are being used to distribute a scam meme money called HACKED. .

Blockchain detective ZachXBT, who tracks these scams, recently issued a warning to the crypto community, advising users to be more careful. “So far, it appears the scammers may have lost money, as the market cap of the HACKED token is a modest $67k and top investors have barely made $1k,” ZachXBT said.

The compromised X accounts appear to be linked to the same malicious site or app. As a precaution, ZachXBT recommends users revoke access permissions to unfamiliar sites or applications.

The latest incident follows a series of similar scams, including the recent use of Kylian Mbappé’s account to promote a fake MBAPPE meme coin. In early September, hackers also targeted family members of US president-elect Donald Trump with a scam involving fake World Liberty Financial money.