Crypto Phishing Attacks: How to Recognise and Avoid Them
Phishing is the number one cause of crypto losses. Here is how modern crypto phishing works and the exact steps to protect yourself.
Phishing attacks steal crypto by tricking you into entering credentials or seed phrases on fake websites that look identical to legitimate ones. In 2025, phishing was responsible for more crypto losses than all smart contract hacks combined. The attacks are sophisticated, fast, and increasingly personalised. Here is the playbook.
How Modern Crypto Phishing Works
- Google ads: attackers buy ads for "Steyble login", "Metamask wallet" — sponsored results appear above legitimate sites
- Discord DM scams: fake support DMs offer to "help" with issues, link to phishing sites
- Twitter/X ads: sponsored posts link to convincing phishing sites — impossible to distinguish from real ads
- Email phishing: "Your account has been flagged" — link goes to fake exchange login page
- Wallet drainers: sign a transaction that approves token spending to an attacker's address
Recognising Phishing Attempts
- URL check: "steyb1e.com" not "steyble.com", "metamask-wallet.io" not "metamask.io"
- Urgency: "Your account will be suspended in 24 hours" — designed to rush you past verification
- Unexpected contact: legitimate companies rarely initiate contact about account security via DM
- "Verify" requests: any request to enter seed phrase, private key, or wallet password for "verification"
- Too-good-to-be-true offers: "Your wallet is eligible for a 2 ETH airdrop — click to claim"
The Protection Protocol
Three rules that prevent 99% of phishing: (1) Never click crypto links from any source — type URLs directly into your browser or use bookmarks, (2) Never enter seed phrases, private keys, or passwords on any site you reached via a link, (3) Before any significant transaction, triple-check the URL in your browser address bar. These rules sound obvious but are violated constantly — phishing attacks succeed because the fake sites are indistinguishable visually from real ones.