MyCrypto’s CryptoScamDB Shows Nearly 7,000 Crypto Scam Sites Exist In The World Today
Currently, their data shows that there are over 6,800 scams and there has been a sharp increase since the beginning of the year. Phishing; fraud; theft; hacking all together equates to an average of $9.1 million a day.
The project aimed to be an open directory of scam and phishing campaigns targeting users in the Ethereum ecosystem. The directory would hold details of domains and addresses, connecting them with other campaigns. Pretty much every day since, the directory has been updated with new campaigns that have been submitted by the community and verified to be malicious. With a minimum reporting threshold of $400k, none of the countless “micro-scams” perpetrated on Twitter and Telegram every day make the list.
It would be great to see the number of cryptocurrency thefts drop to $4 million a day, then $1 million and eventually zero, but realistically that’s not going to happen. The best that can be hoped for is a reduction in the amount lost to scammers.
CryptoScamDB aims to be a single source to lookup flagged domains and addresses for multiple chains, offering screenshots and other details of the offending site. The data will be viewable with a fresh new UI as well as a freely-accessible API.
A net reduction could signal that cryptocurrency platforms and their users have gotten wiser to common attack vectors. Simple measures can be taken to prevent getting caught in the cams and education is one of them.