Wednesday, July 8, 2020

Cryptocurrency Scam Raises Business Breach Risks After It Hits Thousands of Victims Worldwide

Cryptocurrency has been revolutionary in creating a new world economy, and it’s the primary vehicle for transactions on the Dark Web. After lots of splashy coverage in mainstream news organizations around the world, the fascination for it has spread from Dark Web markets to average internet users – making them the perfect targets for cybercriminals. 
In a recent scam, cybercriminals were able to pull off a multi-stage operation that exposed the personal data of thousands of users worldwide including 147,610 victims in the UK, 82,263 Australians, 4,149 South Africans, 4,147 people in the US, 3,499 folks in Singapore, 2,491 Malaysians and 2,420 people in Spain, and other countries. 
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The data was obtained through an interesting style of phishing scam. Users were lured in by an SMS message “starring” a locally famous celebrity (in this case a local journalist) who had “built a fortune” through cryptocurrency trading. Victims who clicked the link were then directed to a unique landing page that had an article quoting a local news personality that dovetailed believably to their region. Each unique SMS link also contained some personal information for the target.  
When the target clicked anything on the fake article landing page, they were then directed to a bitcoin investment platform, where the personal information that had been carried through the process in their unique link was then automatically filled in – and they were asked for their balances in other bitcoin accounts, which were now accessible to the thieves.  
As scams that are hatched through SMS and messaging applications become more common, they can also become an unexpected threat to businesses. Staffers frequently handle personal correspondence on their work devices, especially as more companies employ a “Bring Your Own Device” policy. Interacting with scam messages like these can give cybercriminals an opening to strike. Staffers need to understand that phishing isn’t just an email problem – it’s a problem everywhere.  
Updated phishing training with a dynamic solution like BullPhish ID gets everyone up to speed on potential types of phishing, with easy to understand lessons about common attacks served in bite-sized pieces and delivered through engaging videos to keep lessons memorable, plus online quizzes to test retention. BullPhish ID offers plug-and-play training content in 8 languages, bolstering a business’s cybersecurity by strengthening its best defense against phishing – their employees. 

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