Monthly Threat Report: December 2023
December 2023 saw a 23% increase in Web3 phishing attacks compared to November, with attackers leveraging holiday-themed scams, fake NFT drops, and sophisticated wallet drainers. Key findings:
Top Threat: Malicious MetaMask clones targeting iOS users
Most Targeted Chains: Ethereum, Solana, and Arbitrum
New Attack Vector: "Approval Phishing" via fake DeFi portals
Positive Trend: 37% fewer victims due to improved wallet alerts
1. Phishing Landscape: December 2023
A. Top 3 Scam Types
Attack Type% of Total AttacksExampleFake Wallet Updates42%"MetaMask Critical Upgrade" emailsNFT Airdrop Traps31%Fake Pudgy Penguins mint siteDiscord Token Hacks27%Compromised DAO servers
B. Most Impersonated Brands
- MetaMask (58% of fake extensions)
- Ledger (23% phishing emails)
- OpenSea (19% NFT scams)
2. Emerging Attack Vectors
A. "Infinite Approval" Drainers
- Attackers trick users into granting unlimited token allowances via fake DeFi sites.
- $4.2M stolen in December via this method.
B. AI-Powered Phishing Bots
- ChatGPT-generated personalized scam messages increased by 200%.
- Example: "Hi [Your Name], your wallet has a security flaw. Click here to fix."
C. Fake Hardware Wallet Sites
- Copycat Ledger/ Trezor stores steal seed phrases during "setup."
3. Protection Statistics & Trends
A. User Defense Metrics
- Wallet alerts prevented 63% of drainer attempts (vs. 51% in Nov).
- 2FA adoption rose to 78% among major exchange users.
B. Chainalysis Insights
- $83M recovered from December hacks (vs. $122M lost).
- Top Recovery Method: Exchange freezes on stolen funds.
4. How to Stay Protected in January 2024
Verify all wallet links – Bookmark official sites.
Use Revoke.Cash monthly to clear unused approvals.
Enable transaction previews in wallets like Rabby.
Report scams to Web3Armour.
Conclusion
December’s attacks highlight AI’s growing role in scams, but user education and tools like wallet alerts are fighting back. Stay vigilant Q1 2024 will likely see more drainer exploits.
