Breaking: Scams Linked To Crypto Soared By 335%

By   ISBuzz Team
Writer , Information Security Buzz | Oct 06, 2022 08:48 am PST

A report has found that domains registered for fake promotions have increased by 335% in the past year.

Victims are being scammed via phoney youtube streams featuring celebrities that encourage people to invest in fraudulent schemes. 

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David Mahdi
David Mahdi , Ex-Gartner Analyst and CSO
October 6, 2022 4:58 pm

Blockchain technology is still susceptible to traditional cybersecurity attacks, like phishing – a well-known scam based on impersonating someone else, sometimes even appropriating their credentials. On the blockchain, this is known as ‘ice phishing’, a technique that doesn’t involve stealing one’s private keys, but rather entails tricking a user into signing a transaction that delegates approval of the user’s tokens to the attacker. It is no longer enough to watch out for simple messages with the typical giveaways of crude spelling and wording. Now context, content, and sender must all be considered, particularly if financial transactions on the blockchain are involved. Another attack variety sees bad actors impersonate wallet software to steal private keys directly, making it even more important to truly verify who and what you are communicating with online.

Last edited 1 year ago by David Mahdi

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