Victim loses $520k in LINK to fake bridge website: Scam sniffer

A crypto holder lost more than half a million dollars after signing a malicious transaction on a fake cross-chain bridge.

Web3 security platform Scam Sniffer reported the incident on January 6, reporting on X that the victim lost more than $520,000 to a malicious crypto bridge on Chainlink (LINK).

On-chain details reveal that the victim signed the fraudulent transaction on January 4, resulting in the loss of 22,415 LINK tokens, worth approximately $525,196 at the time. According to Scam Sniffer, attackers targeted Telegram-based decentralized finance groups and exploited users looking for faster bridging solutions.

The incident comes just days after a report on DeFi attacks stated that the ecosystem lost $494 million in 2024 due to wallet-draining phishing scams. More than 332,000 addresses were compromised in a 12-month period; This represents a 67% increase year-on-year. casualties. Affected wallets increased by 3.7% in the same period.

According to the research report, wallet theft attacks intensified throughout the year, with the single largest crypto theft via these attacks exceeding $55.4 million.

In December 2024, Scam Sniffer detailed how attackers were using Google ad campaigns to steal money from unsuspecting crypto holders. For example, fake ads redirected users to a fake Pudgy Penguins website, resulting in the theft of funds.

Blockchain security firm SlowMist also announced last month that attackers turned to Zoom to target crypto users.

Since such incidents are still common, Scam Sniffer advises users to take precautions such as verifying URLs and avoiding links from strangers. The platform also warns against trusting people who appear overly eager to help, as urgency is a common tactic used by scammers.

Be more careful if someone seems too eager to “help.” Take the time to verify; urgency is often the tool of scammers,” Scam Sniffer wrote on X.