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Atlas VPN: Cardano users are more likely to be phished than others

Internet service provider Atlas VPN believes that the Cardano blockchain, amid the desire to force Ethereum out of the market, is becoming an attractive target for phishing scams.

The provider posted a report stating that Blockchain.com users are facing the most phishing attacks. The company’s specialists recorded 662 attacks. The second place in terms of setting traps for users is occupied by the Luno project – 277 cyber attacks.

Third place is occupied by Cardano (ADA), it was attacked using phishing attacks 191 times. Poloniex and Magic Eden are in fourth and fifth place with 72 and 67 attacks respectively. And only in sixth place was the Binance crypto exchange, which was attacked 59 times.

Atlas VPN experts note that phishing scams target all crypto projects in the broadest sense of the word, from investment products to new trends such as non-fungible tokens (NFTs).

Amid a growing number of crypto attacks, the amount lost through fraud reached $329 million in the first quarter of 2022. Forecasts indicate that the numbers will rise. Since last year, scam victims have lost more than $1 billion in various cryptocurrencies.

Cardano has been named one of the most scam-friendly crypto projects as the platform itself is seeing an increase in phishing attacks as it seeks to replace established networks like Ethereum.

In 2021, Cardano founder Charles Hoskinson threatened to sue social media platforms Twitter and YouTube, accusing them of profiting from scammers impersonating Cardano executives.

Source: Bits

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