Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
AI-driven phishing scams and hidden crypto exploits shake Web3 security

AI-driven phishing scams and hidden crypto exploits shake Web3 security

CoinjournalCoinjournal2025/11/12 13:42
By:Coinjournal
AI-driven phishing scams and hidden crypto exploits shake Web3 security image 0
  • SBI Crypto was breached, losing $21 million in assets via a suspected laundering operation.
  • A phishing scam targeting GMGN tricked 107 users into approving fake transactions.
  • Honeypot token scams rose 600% month-on-month, with over 2,100 tokens detected.

Web3 has entered a new phase of cyber threats, with attackers now leveraging artificial intelligence, automation tools, and complex social engineering to exploit users across decentralised networks.

According to GoPlus Security , over $45.84 million was lost in October alone from a surge of scams, phishing attacks, token exploits, and wallet hacks.

The data reveals how scammers are evolving their methods, creating high-impact exploits that have affected thousands of users and platforms across Ethereum, Binance Smart Chain, and Base.

Hackers use AI and automation to boost phishing campaigns

GoPlus observed a sharp increase in phishing attacks that led to more than $3.5 million in losses.

A growing number of these scams are powered by “Phishing-as-a-Service” platforms, where threat actors use AI tools to rapidly generate fake websites and deploy large-scale campaigns with lower operational costs.

One of the largest phishing cases involved the trading platform GMGN.

In this incident, 107 users were misled by a fake third-party website into authorising harmful transactions. Losses totalled more than $700,000.

The phishing scam replicated legitimate wallet interactions, tricking victims into signing approval requests that gave attackers control over their funds.

In another case, a trader approved a malicious “increaseAllowance” command, resulting in a $325,000 loss in Coinbase Wrapped Bitcoin.

Separately, another user was hit with a $440,000 loss after signing a fraudulent “permit” transaction.

Both exploits highlight the rise in fake contract approvals, often enabled by deceptive interfaces mimicking trusted apps.

Sophisticated exploits linked to state-style laundering tactics

The single largest exploit came from SBI Crypto, which suffered a breach that drained $21 million worth of digital assets. The losses included Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash.

Although SBI Crypto did not officially confirm the source of the breach, a joint investigation by ZachXBT and Cyvers suggested patterns similar to those used by North Korean hacker groups.

The attackers allegedly funnelled funds through Tornado Cash, a known crypto mixer previously sanctioned for its role in laundering state-sponsored thefts.

This laundering method closely mirrors activity linked to the Lazarus Group, though the report stressed that the connection remains unverified.

Web3 platforms under attack from honeypot tokens

Alongside phishing and exploits, the report found a dramatic spike in honeypot tokens.

These are malicious smart contracts that allow users to buy tokens but prevent them from selling or withdrawing funds.

Honeypot tokens surged 600% last month, reaching 2,189 identified tokens—though still far fewer than the 40,000 recorded in June 2025.

AI-driven phishing scams and hidden crypto exploits shake Web3 security image 1 Source: GoPlus Security

The Binance Smart Chain accounted for the bulk of these tokens at 1,780, followed by 216 on Ethereum and 131 on Base.

These tokens are embedded with hidden restrictions that block transactions, stranding investor funds in illiquid assets.

Their increase underscores a shift toward embedded contract-level fraud, which can bypass basic security tools.

Tokens and socials compromised in wider exploits

The wider ecosystem also saw losses from social media and platform-based breaches.

Astra Nova’s official social account was hijacked, triggering a large-scale sell-off of its native token RVV and causing losses of approximately $10.3 million.

In a separate exploit, decentralised finance platform Garden Finance was hit with a vulnerability that cost users around $10.8 million, according to ZachXBT.

These incidents reflect a widening surface of attack across both user-facing interfaces and backend contract code.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

DASH Aster's DEX Launch: Ushering in a New Era for On-Chain Advancements and DeFi Integration

- DASH Aster's DEX combines AMM-CEX architecture with yield-collateral models, driving DeFi adoption through institutional-grade liquidity and 5-7% staking yields. - Cross-chain interoperability across BNB Chain, Ethereum , and Solana enables seamless asset transfers, boosting $12.9B cumulative trading volume and $17.35B TVL post-TGE. - Institutional validation from Binance's CZ and Coinbase's listing roadmap, alongside 30% price surges and 800% volume spikes, solidifies market credibility. - Tokenomics of

Bitget-RWA2025/11/12 18:02
DASH Aster's DEX Launch: Ushering in a New Era for On-Chain Advancements and DeFi Integration

Fed Split: Should They Prioritize Fighting Inflation or Supporting Employment?

- Fed policymakers remain divided over prioritizing inflation control or labor-market support, with hawks like Bostic urging rate stability until inflation nears 2%. - Dovish officials argue slowing job growth (29,000 monthly payrolls in late 2024) demands rate cuts to sustain economic momentum despite inflation risks. - Tariff adjustments and delayed economic data complicate decisions, with Treasury's import relief measures facing criticism for potential inflationary rebound. - Looming student loan tax ch

Bitget-RWA2025/11/12 17:46
Fed Split: Should They Prioritize Fighting Inflation or Supporting Employment?

YFI has dropped 7.68% over the past week during a period of heightened volatility and ongoing downward momentum

- YFI fell 7.68% weekly to $4747, reflecting ongoing bearish sentiment amid broader market weakness. - Technical indicators show bearish alignment (EMA/SMA below price) and key support at $4500–$4600 as critical near-term levels. - Historical backtesting reveals limited post-crash recovery potential, with buy-and-hold win rates between 48-62% after 10%+ drops. - YFI remains vulnerable to further declines without a significant shift in market dynamics or bullish catalysts.

Bitget-RWA2025/11/12 17:46

Polkadot News Today: "Why Presale Investors Prefer BlockchainFX's AOFA License Instead of Polkadot or Polygon"

- BlockchainFX secures AOFA license, boosting investor confidence and attracting whale capital amid market shifts toward early-stage projects. - Its $11M+ presale offers tokens at $0.03 with a 50% bonus code, contrasting with slower growth curves of Polkadot and Polygon due to larger market caps. - The project's hybrid model combines regulatory credibility, utility-driven beta platform, and staking rewards, positioning it as a "super app" for multi-asset trading. - Aggressive ROI projections and $500K Glea

Bitget-RWA2025/11/12 17:28
Polkadot News Today: "Why Presale Investors Prefer BlockchainFX's AOFA License Instead of Polkadot or Polygon"