PANews reported on February 5 that according to Cryptoslate, blockchain security company Scam Sniffer reported that cryptocurrency phishing scams stole $10.25 million from 9,220 victims in January, a 56% drop from the $23.58 million loss in December. However, the report pointed out that criminals are constantly evolving and adopting more sophisticated attack methods.

According to Scam Sniffer, Ethereum users were the most affected by phishing scams, accounting for more than 80% of the stolen funds. Losses on Ethereum exceeded $8.6 million, while BNB Chain and Arbitrum users lost $710,000 and $572,000, respectively. Polygon and Optimism also lost about $191,000 and $82,000, respectively.