For all the cryptocurrency investors and traders out there, be warned that you have been and likely will remain a big target for cybercrime this year and into the future. Research by Chainalaysis found that over $220 Million in virtual currency has been ripped off from these individuals so far this year in a scam on the ETH (Ethereum) blockchain network. The average theft per person came to $7,500 worth of coin that they were tricked into sending via phony websites and through email campaigns.
It’s best to take some time to ensure all websites in this area are verified before sending any money. Go to the sites you are confident in to perform any type of trading functions. Be aware of any email that arrives with links asking you to click to go to a particular website. Instead, use a previously bookmarked link or type in the address manually and very carefully. Even a tiny typo can result in becoming a victim of typosquatting, also known as domain jacking. This is when cybercriminals buy domains that are very similar to commonly used or well-known website addresses, counting on people making typos and going to their sites instead. Often, those sites will contain malware that can be executed on the computer without the user knowing what happened.
The imposter websites were predominantly found on social media, particularly Twitter. It’s estimated that there were over 300,000 victims of this scam.
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