Blockchain hype exploited by spammers and phishers

Hackers are exploiting the popularity of blockchain technologies in spamming and phishing campaigns, warns Kaspersky Lab

Multiple blockchain-themed fraud schemes exploiting the hype around the technology have been spotted in recent months, according to security researchers.

This proves cyber attackers are monitoring the latest trends and global developments in cryptocurrencies, said Kaspersky Lab’s third quarter spamand phishing report.

Based on blockchain technology, cryptocurrencies have become an attractive target for cyber criminals, who have been targeting their victims through web-mining, the report notes.

However, the report warns that alongside this, there has been an increase in spam activities related to cryptocurrency in the past three months.

Fraud schemes, based on cryptocurrency trading, have been prevalent, the report said. In one such scenario, users receive an email invitation to install special software for trading in the cryptocurrency market, but when they click on the link, they are redirected to different websites promoting investments options, including binary options trading.

By doing this, cyber criminals hope users will be enticed to invest more and more money, and transfer currency to a trading account which they own. However, for the victim there is no guarantee that it will lead to something, or they will get their money back, the report warns.

More primitive, but no less effective tactics used to exploit victims include the distribution of emails offering to transfer money to a specific crypto wallet, with fake promises of returning the money with interest.

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Source: ComputerWeekly.com