Phishing Scams Surge: $12 Million Lost in August Alone
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Phishing Scams Surge: $12 Million Lost in August Alone
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The biggest headline: Phishing scams just hit a jaw-dropping $12 million in losses for August, and that’s not cumulative—that’s just the month. ScamSniffer, a major Web3 watchdog, called it the worst phishing surge of 2025, with over 15,000 victims this month alone. What’s wild is that nearly half the money was sucked out of accounts belonging to only three “whales.” According to their report, the tools of choice are no longer simple emails; they’re now exploiting Ethereum’s latest protocol, EIP-7702. This upgrade, designed to make crypto wallets more flexible after the Pectra upgrade, turned out to be a gold mine for scammers. Imagine sending a transaction you believe is routine, but in reality, your digital wallet is being drained clean. That happened on August 6: one unlucky user lost $3.08 million in a single batch transaction, basically because scammers convinced him to sign a malicious contract. Another got hit for $1.5 million using a similar batch signature scam—EIP-7702 is making those batch cons look way too legit.
Now, not all scams need a blockchain degree to run. This week in Florida, detectives arrested Cory Woodall, who played a key role laundering the proceeds of a romance scam—totaling $60,000. Here’s the twist: the victim, Carol West, even got to confront Woodall in person after being duped by crooks posing as Army General Paul Lacamera on Facebook. Classic playbook—fake profile, fake crisis, real-life heartbreak, and a brand new Hyundai Kona for Mr. Woodall, bought with the victim’s cash.
Meanwhile, the bad guys are hitting everywhere. The American Bankers Association just revealed scammers are spoofing caller IDs to look like legit banks, fishing for your first eight digits and pressing you for the rest. Kelsey Havemann almost fell for it—until she hung up and called her real bank. Folks, call spoofing is now so convincing your phone says “Bank” and it’s a crook. Rule of thumb: never give info over the phone if someone calls you first—hang up, dial your bank’s legit number, and only then talk.
Cryptoscams are going strong, especially with aggressive requests for fines or investments paid in Bitcoin or gift cards. The Ohio Department of Aging warns that these tactics are fleecing older people at alarming rates—over 16,000 cases of financial exploitation just in the last year. If anyone ever asks for payment in crypto, gift cards, or wants you to “act immediately,” red flag—slam the brakes.
And don’t let the side hustle offers online fool you. The BBB of Michigan is flagging stacks of fake job listings and freelance gigs—if someone wants you to get paid outside a legit platform, or overpays and asks for money back, it’s a scam with your name on it.
Let me land it with the Scotty Security Checklist: Don’t click on links from strangers. Don’t send cash or crypto to online only “friends.” Don’t trust caller ID. Double-check every too-good-to-be-true offer. And if your online romance feels like a Netflix miniseries, chance are it’s a work of (criminal) fiction.
Thanks for tuning in—subscribe and stay safer than your neighbor’s unpatched router. This has been a quiet please production, for more check out quiet please dot ai.
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