The post Crypto Hack Weekly Report: Phishing, Fake Mining Scams, and $474K Loss in One Week appeared first on Coinpedia Fintech News This week in the crypto world, one lost $474,422 to a phishing attack, while another revealed a ₹600 crore plan to help WazirX hack victims. However, scams and vulnerabilities are still ways to defeat users and platforms, reinforcing the necessity for consciousness and integral protection. $474,422 Stolen From Investor Through a Phishing Scam An investor was scammed to the tune of $474,422 worth of tokens including $OLAS, $SEKOIA, $VIRTUAL and $FJO, mistaking, the above contract approvals as genuine. As to the type of infection, the attackers started from a fake site and were able to deceive the victim. Phishing scams, which have made up 40% of the crypto attacks this year, have cost users $1.05 billion internationally. Many of these frauds use websites that are fake as well as utilize social engineering making it essential to practice security habits while transacting. Coinswitch to Launch a ₹600 Crore Recovery Program To support 4 million users affected by the $230 million hack on WazirX, Indian cryptocurrency firm CoinSwitch has announced a ₹600 crore ($72 million) recovery program. The following are its incentives; signup offers, referral incentives, and revenue sharing in the next 24 calendar months. Vietnam’s Crypto Mining Scam Defrauds More Than 200 People 200 Vietnamese victims were defrauded through a fake mining site called BitMiner for VND 4 billion and $157,300. The people who orchestrated the scam relied on marketing which varied from the standard norm and all forms of AI-aided educational content to ensure that members of the public put their trust in the fake website. Police arrested the suspects but the investigations are still ongoing. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Russian Trio Busted for Crypto Laundering with Blender.io & Sinbad.io , Less Significant Crypto Hacks Holoworld AI: The official X account of Holoworld AI was hacked with phishing links from attackers. Virtuals Protocol: A Discord server attack resulted in warning messages to avoid communications with admins until the situation had been fixed. Orange Finance: Orange Finance faced a $830,000 theft resulting from a misconfiguration of the multi-signature setup. The attacker also abused the spending authority and defunct many balance sheets. Mosca: A contract vulnerability on the Binance Smart Chain that cost $19,500 to Mosca. The increase in the number of different attacks requires careful attention and strict measures necessary to protect the crypto community. 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