Warning: Beware of Cryptocurrency Phishing Scams

Phishing is currently one of the most widely used digital fraud techniques in the world. Fraudulent schemes are many and varied and you can’t be too careful. Did you know that phishing also uses cryptocurrencies as “bait”?

Phishing with cryptocurrencies grows by 40% in one year

In the past year, targeted phishing for cryptocurrency theft has increased significantly, with a 40% year-on-year growth and 5,040,520 detections in 2022, compared to 3,596,437 in 2021.

The revelation was made by Kaspersky which further reveals that traditional financial threat attacks, such as banking malware on computers and mobile devices, have become less common.

While most of these schemes use traditional tricks like gifts to obtain personal data, Kaspersky reveals that attackers are constantly coming up with new techniques to ensure their success.

In a recent scheme, the user receives a PDF file in English by e-mail, stating that he registered long ago on a cloud cryptocurrency platform and that he urgently needs to withdraw his cryptocurrencies, as the account is inactive. The file contains a link to a fake platform. To withdraw the assets, the user must fill out a form with his personal and banking information, including the card or account number, and pay a commission through a cryptocurrency wallet.

Warning: Beware of Cryptocurrency Phishing Scams

To maximize the benefits and security of using cryptocurrencies, the security company suggests:

  • Be careful. Criminals often use phishing emails or fake websites to trick people into revealing their login credentials or passwords. Always and several times check the URL of the website and do not click on suspicious links.
  • Do not share your cryptocurrency wallet passwords.
  • Stay up to date on the latest cyber threats and best practices to keep your cryptocurrencies safe. The more you know about security, the better equipped you will be to prevent cyber attacks.
  • Before investing in any cryptocurrency, thoroughly research the project and its team. Among other things, check the website, social networks, various documents and make sure that the project is legal.
  • Use trusted security solutions. For example, Kaspersky Premium prevents cryptocurrency fraud, such as unauthorized use of your computer to mine cryptocurrencies.

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