Cyber Criminals Use Phishing Scams to Steal Crypto Currencies
June 15, 2017
Shah Sheikh (1294 articles)

Cyber Criminals Use Phishing Scams to Steal Crypto Currencies

When crypto currencies were first released, not a lot of people knew about them. Today, even the general mass seems to have somewhat of an idea about crypto currencies. In light of recent events coupled with the rise of cypto currency value such as the infamous Bitcoin, cyber criminals are attempting to steal these virtual dollars through phishing.

Websites that support various currencies are being used as bait in the phishing scams as shown in Proofpoint’s report. The highest currency being targeted is obviously the most popular one, Bitcoin. Websites such as are being used by cyber criminals as they state in an e-mail appearing to come from the blockhain team that the victim needs to follow a link and enter his login credentials. If successful, his e-wallet gets stolen.

The e-mail is composed of a correct branding, the use of blockchain’s e-mail format, and informs the user that one of his recent transactions was not successful. Therefore, he needs to login with his credentials by following the link provided by the attackers. The phishing templates are being continuously updated by the criminals in order to keep up with blockchain’s latest website designs.

The problem with crypto currency is that they are anonymous by nature. This implies that it is almost impossible to track the thief or figure out where the money is going. Even though bitcoin is the most popular crypto currency, other currencies such as Monero, Ethereum, and Dash are also being targeted.