Cryptocurrency-related cyber attacks have taken a turn towards phishing techniques, as reported by Russia’s digital security provider and anti-virus company, Kaspersky. According to the data, crypto phishing scams have risen by 40% year-on-year in 2022. Kaspersky detected 5,040,520 crypto phishing attacks in that year, compared to 3,596,437 in 2021. Phishing scams use fake websites to steal funds or assets from unsuspecting users who access the site or links provided by the attacker. The links are spread through various platforms using enticing words to attract victims. In crypto phishing, the attacker will ask for personal information such as email addresses, personal data, and private keys, which would grant the attacker access to the victim’s wallet and crypto assets. In a survey conducted by Kaspersky in 2022, one out of seven respondents admitted to being a victim of cryptocurrency phishing. While phishing attacks usually involve giveaway scams or fake wallet phishing pages, attackers are constantly evolving their strategies to keep the scam running.
New Phishing Schemes Emerge
Kaspersky has uncovered a new phishing scheme involving the sending of a PDF file claiming that the recipient has been registered on a cloud mining platform for a long time and must immediately withdraw a large amount of crypto because their account is inactive. The file contains a link to a fake mining platform. To withdraw the crypto, the victim must fill out a form with personal information, including a card or account number, and pay a commission, either through a crypto wallet or directly to the specified wallet address. It is uncertain if this trend will continue to increase in 2023, as hardware cryptocurrency wallet provider Trezor recently issued a warning in March against attempts to steal users’ crypto by tricking investors into entering their recovery phrases on a fake Trezor site. “Cryptocurrency remains a symbol of quick riches with minimal effort, leading to a continuous flow of scammers who are parasites in this field. These scammers keep creating new and more attractive stories to lure victims into their network,” said Olga Svistunova, a security expert at Kaspersky.
How to Stay Safe from Phishing Scams
Kaspersky has provided the following tips to help users avoid phishing scams:
- Do not blindly click on links, always check the URL for safety first.
- Do not recklessly share personal information.
- Educate yourself on different scams and how to avoid them.
- Conduct research before investing.
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