Crypto Scams

Blockaid scanned over 180 million transactions of Backpack's users between June and September, detecting more than 71,000 malicious activities on the Solana network. 

Backpack Wallet has identified malicious actors targeting more than 5% of its users engaging with the Solana network. Over 71,000 malicious transactions were detected between June and September 2024, avoiding $26.6 million in potential losses for users. 

The transactions were identified through a partnership with security firm Blockaid, which scanned over 180 million transactions from Backpack’s users on Solana during the period.

“Our stats reflect the threats to end-users, meaning that these refer to malicious dApps, scam transactions, and harmful contracts,” Blockaid CEO Ido Ben-Natan told Cointelegraph.

According to Ben-Natan, users on the Solana ecosystem are being disproportionately targeted by scammers and attackers — mostly due to the growing activity of memecoin traders. “A lot of these attacks are usually coming from the same actors that populate the EVM threat landscape,” he said. The CEO added:

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