Cybersecurity Firm Kaspersky Calls Out Cryptocurrency Scams And Thefts

Russia-based cybersecurity organisation Kaspersky recently expelled a report highlighting 2017’s cryptocurrency “social engineering schemes,” which saw criminals net millions in cryptocurrency value.

According to estimates given by Kaspersky’s investigate team, the cybercriminals managed to benefit over 21,000 Ethereum, or approximately $10 million at the time of press, from the “social engineering” schemes seen in 2017. 

So what did these schemes entail?

The cybersecurity organisation remarkable that ICO and cryptocurrency giveaway scams were common, with cybercriminals “drawing inspiration” from legitimate business operations. The news noted:

Some of the most renouned targets are ICO investors, who find to invest their income in start-ups in the wish of gaining a distinction in the future.

For ICO-related scams, the criminals would emanate fraudulent websites and emails/messages that obey obvious projects. This process resembles the classical internet ‘phishing’ scam, which involves scammers perplexing to obtain supports or supportive information by disguising as a devoted party.

Kaspersky gave the example of a Switcheo ICO scam, permitting for criminals to take over $25,000 by compelling a dubious cryptocurrency residence on Twitter, rerouting the supports from the central ICO wallet to the criminal’s wallet.

Another distinguished rascal concerned the OmiseGo project, which is one of the most renouned projects on the Ethereum network. In a identical process to the Switcheo scam, criminals combined “hundreds of feign websites,” interesting users to send their hard-earned cryptocurrencies to the ‘legitimate’ address. The Russian organisation remarkable that OmiseGo scams drew in over $1.1 million value of cryptocurrency, by distant one of the most deleterious cases of “social engineering.”

Elon “Not Giving Away ETH” Musk

Another renouned process enlisted by scammers was with ‘cryptocurrency giveaways,’ with bad actors formulating amicable media accounts that fake to be celebrities, entrepreneurs or even cryptocurrency personalities. The most important cases of these scams embody Twitter ‘giving divided Ethereum’ scams, with scammers requesting for users to send Ethereum to an address, in sell for a almost incomparable payout.

Obviously, zero ever comes of these requests, as the hapless few who send their supports to the addresses never get anything in return. The cybersecurity organisation acknowledged cases where criminals would even impersonate the Twitter accounts of Elon Musk and the owner of Telegram, Pavel Durov.

Musk, one of the world’s most distinguished businessmen, concurred the “scambots” made in his likeness, jokingly issuing a Tweet job these accounts out.

Nadezhda Demidova, the lead web calm researcher at Kaspersky gave a matter per the scams, saying:

These new rascal schemes are formed on elementary amicable engineering methods, but mount out from common phishing attacks because they assistance criminals make millions of dollars. The success criminals have enjoyed suggests that they know how to feat the tellurian factor, which has always been one of the weakest links in cybersecurity, to gain on user behaviors.”

However, Kaspersky remarkable that the far-reaching array of products have been operative well to wand off scams, and have blocked over 100,000 attempts to rascal the users using “fake exchanges and other sources” in the first half of 2018. Kaspersky sealed the news by reaffirming that users should be heedful while traffic with controversial cryptocurrency exchanges, offers, and wallets.


Article source:

Leave a Reply