Cryptocurrency Phishing Attacks Rise by 40% Year-on-Year in 2022

Cryptocurrency-related cyberattacks have seen bad actors shift their focus from traditional financial threats to phishing. Kaspersky has revealed a 40% year-on-year increase in cryptocurrency phishing attacks in 2022, with 5,040,520 attacks detected compared to 3,596,437 in 2021. Phishing attacks involve reaching out to investors through fake websites and communication channels that mimic official companies, and prompting users to share personal information such as private keys, which ultimately provides attackers unwarranted access to crypto wallets and assets.

While Kaspersky could not predict if the trend of cryptocurrency phishing attacks would increase in 2023, phishing attacks continue to gain momentum in 2023. In a survey conducted by Kaspersky, one out of seven respondents admitted to being affected by cryptocurrency phishing.

Phishing attacks predominantly involve giveaway scams or fake wallet phishing pages, but attackers continue to evolve their strategies. Kaspersky has noted that “crypto still remains a symbol of getting rich quick with minimal effort,” which attracts scammers to innovate their techniques and stories to lure in unwary crypto investors.

Recently, hardware cryptocurrency wallet provider Trezor issued a warning against attempts to steal users’ crypto by tricking investors into entering their recovery phrase on a fake Trezor site. This highlights the importance of being vigilant and taking necessary precautions to protect one’s crypto assets.

In a recent incident, Arbitrum investors were exposed to a phishing link via its official Discord server. A hacker reportedly hacked into the Discord account of one of Arbitrum’s developers, which was then used to share a fake announcement with a phishing link. This shows that attackers are constantly finding new ways to trick investors into sharing their personal information, and highlights the need for increased security measures to protect against cryptocurrency phishing attacks.

In conclusion, cryptocurrency phishing attacks continue to rise, with attackers evolving their strategies to lure unwary crypto investors. It is crucial for investors to be vigilant and take necessary precautions, such as avoiding clicking on suspicious links, verifying the authenticity of websites and communication channels, and using hardware wallets to store their crypto assets. Additionally, companies must prioritize security measures and educate their users to help prevent and mitigate the effects of cryptocurrency phishing attacks.


Tagged : / / / / / / / / /

North Korea Allegedly Funding Missile Program With Stolen Crypto: Report

The United Nations (UN) says that North Korea is using cryptocurrency acquired in cyberattacks to help fund its illicit weapons program.

In a new report, Reuters says it has reviewed the confidential document submitted to the UN Security Council by independent sanctions monitors last Friday.

The document alleges that the rogue nation continues to violate international sanctions against weapons testing and launches dating back to 2006.

The monitors say,

“Although no nuclear tests or launches of ICBMs (intercontinental ballistic missiles) were reported, DPRK [Democratic People’s Republic of Korea] continued to develop its capability for production of nuclear fissile materials…

DPRK continued to seek material, technology and know-how for these programs overseas, including through cyber means and joint scientific research.”

The UN report cites cyberattacks as a source of funding for North Korea’s weapons program, including stealing over $50 million from several crypto exchanges from 2020 to 2021.

Chainalysis released an in-depth analysis of North Korea’s cybercrime methodology last month. The data firm says that North Korea utilized phishing, malware and code exploits to launch more than half a dozen cyberattacks that netted almost $400 million in 2021.

Chainalysis highlights the sophisticated nature of North Korea’s money laundering infrastructure, saying,

“DPRK is a systematic money launderer, and their use of multiple mixers – software tools that pool and scramble cryptocurrencies from thousands of addresses – is a calculated attempt to obscure the origins of their ill-gotten cryptocurrencies while off ramping into fiat…

Chainalysis has identified $170 million in current balances… that are controlled by North Korea but have yet to be laundered through services…

DPRK has massive unlaundered balances as much as six years old.”

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/iurii/Sensvector


Tagged : / / / / / / / / /

Jim Cramer Sold Most of His Bitcoin Holdings but Willing to Buy Again If Prices Fall to Near $10,000

Jim Cramer, The CNBC host, stated that he sold almost all of his Bitcoin holdings amid the crypto volatility. However, the TV host and former hedge fund manager said he would purchase Bitcoin again if it were really to the tank.

On Tuesday, Bitcoin experienced a rebound like a roller coaster, after plunging more than 9%, trading below $30,000 before retracing its level above the mark. 

In an interview with CNBC’s “Squawk on the Street” on Tuesday, Cramer said that he would come back:

“I would go back in if I could get it at $10,000, $11,000, $12,000 — where I bought a lot”,

Cramer once revealed that he has “sold almost all of my Bitcoin on Monday.” He claimed that it was unnecessary to need virtual currencies.

The plunge was a continuation of recent selling off as China expanded its crackdown on cryptocurrency mining and urged financial institutions not to offer service to the industry.   

The bitcoin price dropped, and Cramer stated that he would have expected the opposite, given China’s restrictions on crypto mining (the nation has historically led Bitcoin global mining efforts).

“When you limit mining, (the price) should obviously go up,” Cramer stated.

“I’m saying that this is not going up because of structural reasons,” Cramer said, referring to Bitcoin’s value.

One factor that influencing Crammer’s move was China’s toughening stance towards crypto assets, intensifying crackdown on crypto mining and ordering local banks and payment platforms not to offer services to crypto-related businesses.

He raised concerns about Bitcoin’s role in the Colonial Pipeline ransomware payment and other ransomware cases, which have a stark reminder of the unregulated nature of cryptocurrencies.

Cramer said. “I think the Justice Department and the FBI and the Federal Reserve and Treasury could coalesce and say, ‘OK guys, if you pay ransomware, we’re going to go after you.'”

The two government forces gave Cramer enough pause that he decided to offload most of his Bitcoin.

Taking Profits on Big Investing  

Jim Cramer has been a Bitcoin advocate for quite some time. In February, he turned bullish on the Bitcoin balance sheet, stating that it’s almost irresponsible not to include Bitcoin on balance sheets following Tesla’s buy.

Also, he stated that he’d be open to being paid in Bitcoin instead of cash in the recent past. He previously disclosed that he invested $500,000 into Bitcoin after becoming frustrated with gold.

In April, he paid off a mortgage using profits from his investment in Bitcoin.

Last month, Cramer sold half of his Ethereum holdings to purchase an all-electric Hummer. He did not specify the amount he used to buy the Hummer Cramer, but the model starts at $100,000.

However, his recent sell-off does not mean that he is done with crypto investment. On the contrary, he is still in the game. Yesterday, Cramer said that he would be sitting on the sidelines to watch the performance of crypto prices.

Image source: Shutterstock


Tagged : / / / / / /
Bitcoin (BTC) $ 26,559.12 0.03%
Ethereum (ETH) $ 1,593.33 0.50%
Litecoin (LTC) $ 64.32 0.30%
Bitcoin Cash (BCH) $ 207.74 0.06%