Dec 27, 2023

According to Chainalysis, targeted approval phishing scams saw tremendous growth over the last two years, with at least $374 million suspected stolen in 2023.

Video transcript

The chart of the day is presented by, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. According to cha analysis targeted approval, phishing scams saw explosive growth over the last two years with at least $374 million suspected stolen in 2023 approval. Phishing tricks victims into sending them crypto usually through a fake investment opportunity. Then the scammer tricks the user into signing a malicious Blockchain transaction which gives the scammer approval to spend tokens in the victim's wallet. In some says victims have lost tens of millions of dollars approval. Phishing scammers tracked and this chart saw their 2023 revenue peak in March and June November was the quietest month this year for these types of scams. Che Alys notes that education and pattern recognition tactics can be used to help address the issue. That's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind top news stories.

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