Cryptocurrency We have issued warnings that investors should be much more cautious with the approaching bull markets. We have also been saying for years that social engineering attacks targeting a single person will be one of the most preferred attack methods. We will examine the biggest example so far in a moment. Cryptocurrency investors should be careful.
Social Engineering Attacks and Crypto
From the search section Social Engineering When you search for the word, you will see that we have shared many warnings on this subject. Warnings on this subject increased after the Ronin Bridge was hacked and hundreds of millions of dollars were stolen. Attackers are now specifically focusing on cryptocurrency rich people and attacking them with special scenarios.
This is exactly why you should be cautious about people you meet on social media and even those around you in real life if you have a significant amount of crypto investment. The best security measure against these attacks is to be secretive to the outside world. People should not know how much crypto investment you have and you should not give clues about it in posts that reflect your life.
We also shared with you the announcement published by the US Department of Justice a few days ago. It was mentioned that a large gang stole millions of dollars of crypto money by raiding houses and kidnapping people.
Movie-Like Crypto Heist
Cryptocurrency detective Zach is a name that helps law enforcement on a global scale and in crypto is known for solving major crimes. Just moments ago, Greavys (Malone Iam) revealed that Wiz (Veer Chetal) and Box (Jeandiel Serrano) stole $243 million from a single person last month via a social engineering attack. There have been multiple arrests and millions of dollars in assets have been frozen.
On August 19, 2024, the attackers will attack one Genesis He targeted his creditor. The steps of the incident were as follows;
- They called targets, such as Google Support, using a spoofed number to hijack personal accounts.
- They contacted him pretending to be Gemini support, claiming that the account had been compromised.
- They managed to socially engineer him into resetting 2FA and sending Gemini funds to the scammers’ wallet.
Zach even had access to a live recording of the attackers achieving victory and shared those moments on his X account. He was extremely happy to have achieved victory over the attackers.
As a result of the investigation, Box and Greavys were arrested in Miami and Los Angeles last night. Law enforcement is expected to seize funds during the arrests due to the large transfers made during that period. The attackers’ messaging and on-chain activity reveal the criminals. The crypto detective also examines social media posts and produces many evidence with open source intelligence. It is unclear how much will be returned to the victim in the end.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
