In recent times, the digital frontier has become a battleground for malicious actors seeking to defraud individuals of their hard-earned crypto, NFTs, and money. Discord, the popular VoIP and chat application, has not been immune to the onslaught of scams. Hackers have capitalised on the platform's open nature to perpetrate various scams.
Discord Scamming: Where Messaging Platforms Become a Breeding Ground
Discord, once heralded as a thriving digital community hub, has increasingly become a fertile ground for cyber scams, particularly in the realm of crypto and NFT projects. In a year where the popularity of NFTs skyrocketed, the number of NFT scams witnessed a concerning surge. These projects rely on Discord for communication and engagement with their communities, making the platform a target for scammers.
As the cybersecurity firm Kaspersky reports, there has been a sharp uptick in crypto-related scams within Discord, marked by evolving tactics employed by hackers. Discord users are increasingly vulnerable to these scams, resulting in significant monetary losses. Notably, these phishing attempts are not limited to individual users; even prominent crypto communities have fallen victim to attacks.
For instance, OpenSea, the largest NFT marketplace, saw its Discord channel compromised, and the Bored Ape Yacht Club (BAYC) Discord server suffered a hack. The implications of such breaches extend further; the compromise of the Mee6 Discord bot in May 2022 led to a spate of scam messages infiltrating public channels of crypto projects like Axie Infinity.
It is evident that no one is immune to these scams, making action a necessity to ensure online safety.
Cryptocurrency Scams and Frauds: Alarming Statistics
The statistics surrounding cryptocurrency scams paint a grim picture. According to the Federal Trade Commission (FTC), reported losses due to cryptocurrency-related frauds and scams exceeded $1 billion between January 2021 and March 2022. However, this figure represents only reported cases. Globally, Chainalysis reported that in 2021, cryptocurrency-related frauds accounted for losses totalling $7 billion, affecting more than 46,000 individuals. The median loss per person stood at $2,600. These figures indicate a staggering increase in crypto scams compared to previous years.
To put this into perspective, in the first quarter of 2022 (January to March), losses attributed to cryptocurrency fraud amounted to $329 million, nearly half the total losses witnessed in the entirety of 2021, which stood at $680 million. This data underscores the alarming rise in scams that threaten the mass adoption of DeFi and crypto. As the cryptocurrency landscape evolves, so too do the tactics employed by attackers.
Discord Security Measures
Recognising the rampant scams on their platform, Discord has taken steps to educate users on the types of scams to watch out for and how to manually prevent them. Among the common scams are phishing scams, where hackers create counterfeit websites to trick users into divulging personal information, and giveaway scams, where fake accounts promise free items or services in exchange for money.
Users are encouraged to refrain from sharing personal information on unfamiliar websites, exercise caution when encountering accounts promising giveaways, and report suspicious activity to Discord's support team. It's also crucial to scrutinize the links you click on when received through Discord to avoid falling victim to phishing attempts. Password managers can add an extra layer of security by identifying phishing attempts.
Interlock's Cyber Security Discord Bot
The relentless proliferation of scams in the Discord ecosystem calls for innovative solutions to safeguard users and communities. Enter Interlock's Cyber Security Discord Bot, aptly named "Bouncer." This dedicated bot is on a mission to block malicious links and phishing sites, bolstering the security of public channels on Discord.
Leveraging years of cybersecurity expertise and a robust threat intelligence database, the Bouncer bot incorporates Visual AI technology to identify and mitigate potential threats in real time. While currently in beta testing, it aims to provide a comprehensive layer of protection and safety to the Discord community.
References:
Comments