Kaspersky has stopped over 1.3 million crypto phishing attacks in Russia this year.

Kaspersky has stopped over 1.3 million crypto phishing attacks in Russia this year.

The Rise of Crypto Phishing Attacks in Russia

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The blockchain industry has witnessed a surge in popularity in recent years, with cryptocurrencies gaining widespread acceptance and usage. However, this rise in popularity has also attracted the attention of cybercriminals, leading to an increase in phishing attacks targeting crypto users. In Russia alone, over 1.3 million crypto-related phishing attacks were stopped in the first half of this year, according to a report by cybersecurity provider Kaspersky Lab1.

The Popularity of Cryptocurrencies in Russia

The increase in crypto phishing attacks can be attributed to the growing popularity of cryptocurrencies in Russia. Due to the outbreak of war with Ukraine and subsequent sanctions, there has been a significant rise in Russian crypto-powered remittances to overseas locations. Some of these transactions involve the use of illegal exchanges and shady brokerages2. Additionally, Russian businesses have turned to cryptocurrencies as a means of payment, especially after being frozen out of the US dollar-powered international trade market3.

The Modus Operandi of Phishers

Phishers are constantly devising new strategies to trick crypto users into revealing their sensitive information. One common tactic is sending fraudulent emails to crypto wallet holders, offering free crypto handouts or claiming to be from well-known cryptocurrency exchanges. These emails often ask for confirmation of transactions or prompt users to upgrade their wallet security, leading them to click on malicious links4. These links redirect users to websites designed to harvest login and password data, compromising their digital assets5.

Protecting Against Crypto Phishing Attacks

To mitigate the risk of falling victim to crypto phishing attacks, it is crucial for users to remain vigilant and implement strong security measures. Roman Dedenok, a cybersecurity expert at Kaspersky Lab, emphasized the importance of verifying links before clicking on them or entering confidential information6. Users should be cautious of unsolicited emails or messages and ensure they are not being directed to phishing sites. It is recommended to rely on official sources for cryptocurrency-related information and to avoid sharing sensitive data with untrusted sources7.

Targeting Russian Hardware Wallet Users

In addition to targeting crypto wallet holders, phishers have also set their sights on hardware wallet users in Russia. Kaspersky Lab researchers discovered a targeted phishing campaign that specifically aims to deceive hardware wallet owners. The campaign involves sending emails to wallet holders, claiming to be from Ripple and offering an opportunity to participate in distributing XRP tokens8. If users follow the link provided in the email, they are directed to a fraudulent website that tricks them into connecting their hardware wallet to a malicious source9.

Conclusion

As the blockchain industry continues to grow, so does the threat of phishing attacks targeting crypto users. The increase in popularity of cryptocurrencies in Russia has made it a prime target for cybercriminals. To protect against these attacks, users must remain vigilant and adopt robust security measures. It is crucial to verify the authenticity of emails and messages, avoid clicking on suspicious links, and rely on trusted sources for cryptocurrency-related information. By staying informed and cautious, crypto users can safeguard their digital assets from phishing attacks.


  1. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  2. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  3. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  4. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  5. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  6. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  7. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  8. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

  9. Plus World. (n.d.). 1.3 Million Crypto Phishing Attacks Stopped in Russia in Six Months. Retrieved October 13, 2021, from https://plusworld.org/daily/1-3-million-crypto-phishing-attacks-stopped-in-russia-in-six-months/↩︎

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