A cryptocurrency holder lost over half a million dollars after signing a malicious transaction on a fraudulent cross-chain bridge website.

Incident Highlights Risks of Fake Bridges

Web3 security platform Scam Sniffer reported on January 6 that a victim lost more than $520,000 in Chainlink (LINK) through a malicious crypto bridge.

According to on-chain details, the victim signed a fraudulent transaction on January 4, resulting in the loss of 22,415 LINK tokens, valued at approximately $525,196 at the time. The attackers targeted users in decentralized finance groups on Telegram, exploiting those seeking faster bridging solutions.

Rise in DeFi Ecosystem Scams

The incident follows a report revealing that the DeFi ecosystem lost $494 million in 2024 due to phishing attacks and wallet scams. The number of compromised wallets increased by 3.7% during the same period.

Research also indicates that wallet-draining attacks intensified throughout the year, with the largest single crypto theft through such attacks exceeding $55.4 million.

Scams are becoming increasingly sophisticated. In December 2024, Scam Sniffer revealed that attackers used Google ad campaigns to direct users to fraudulent websites. For instance, a fake Pudgy Penguins page led to stolen funds.

Additionally, blockchain security firm SlowMist highlighted a new trend where scammers used platforms like Zoom to target cryptocurrency holders.

Recommendations for Users: Stay Vigilant

As scams rise, Scam Sniffer advises users to take the following precautions:

  • Verify URLs before clicking on them.

  • Avoid links from unknown individuals.

  • Remember that urgency is often a scammer's tactic.

"If someone's help seems too eager, exercise extreme caution. Take your time to verify the situation," Scam Sniffer warned on X.


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