Source: CYREN Blog

CYREN Blog Cryptocurrency phishing attack nets over $1 million in a few hours

With tremendous money to be made in a short period of time, phishing has become commonplace within the cryptocurrency exchange world, particularly at the moment when a new currency comes along and debuts with its initial coin offering (ICO), an event not unlike an initial public offering with corporate stock. Initial coin offerings are happening with frequency as there are now over 1,200 (and counting) cryptocurrencies out there. Phishers are exploiting the ICO frenzy by first hacking into these participant email databases and then sending phishing emails to ICO participants, with instructions to deposit funds into the phisher's cryptocurrency account.

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Cyren is a cybersecurity firm that develops cloud-based website security, threat detection and anti-malware products for enterprises. Read more