Simple in practice: Crypto education is key to curbing phishing scams
Even though wallet operators have a large role to play in protecting funds, customers also need to educate themselves to avoid phishing scams. As the global crypto economy continues to prosper, with Bitcoin (BTC) currently occupying the $15,500 region, questions regarding the overall safety and security of digital assets continue to persist, especially in the wake of a new scam whereby hackers made use of a phishing email to direct users to a fake Ledger website. According to various reports, victims were scammed to the tune of 1,150,000 XRP, worth approximately $290,000.Dave Jevans, CEO....
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South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. Seoul Strengthens Monitoring of Crypto Phishing Scams Rising market prices have led to an increased number of phishing attempts targeting investors and users of cryptocurrency in South Korea. The government in Seoul announced it’s strengthening its monitoring system to quickly detect such....
A majority of the phishing attacks recorded have been conducted on social media platforms that do not have account verification features. As Web3 adoption goes further and more beginners enter the space, hackers are becoming more active, with more phishing attacks being recorded in the latest quarter of 2022 and social media being noted as a major platform of choice for conducting the hacks. In the quarterly report of security firm Certik, the team has found a 170% increase in phishing attacks in the second quarter of 2022. According to the security firm, 106 attacks were recorded in the....
Phishing scams are increasingly becoming a pain in the arse in the crypto space. Cybercriminals are stepping up their game with one objective: to drain crypto wallets of thousands — if not millions — worth of cryptocurrencies. According to various crypto news agencies on Thursday, citing a self-proclaimed crypto investigator on social media going by […]
Phishing comes in many forms. The main target of any cybercrime is to generate money from duplicitous actions. When a hacker targets an international business and steals their data, there is a financial incentive that pushes them to do so. As cryptocurrency becomes a more recognized financial medium, attackers are actively turning to target those with digital wallets. In 2021, crypto scammers took $14 billion. Quite simply, as Bitcoin and other cryptocurrencies become more valuable, they become a bigger target for hackers and scammers. With this in mind, those that actively buy, sell,....
The cryptocurrency hardware wallet firm Ledger was hacked last June and over a million emails were exposed, according to reports from the company at the time. Months later, the hackers who obtained the Ledger data emailed clients, sent texts to customers, and created phishing links for users to enter their seeds. One customer allegedly lost $50k and during the last week, the company has been getting inundated with complaints on social media. Last Summer’s Ledger Wallet Data Breach Leads to Phishing Scams The Ledger hackers who obtained roughly a million customer emails and possibly....