Examining a Recent Supply Chain Email Breach Hackers Exploiting High Profile Accounts
Cybercriminals have long been on the hunt for easy ways to steal cryptocurrency. One popular method is to target the email accounts of prominent figures in the crypto world, such as crypto platforms or individuals with a large following.
Recently, the cryptocurrency community was shaken by news of a potential breach in the email supply chain. Tether CEO Paolo Ardoino and CoinGecko Co-founder Bobby Ong issued warnings about phishing scams and fake airdrop launches. The concern arose from the suspicion that the email listing provider used by many crypto platforms may have been compromised.
Confirming the breach, Tether CEO Paolo Ardoino acknowledged reports of an attack on a well-known email vendor widely used by crypto organizations. He cautioned users to be cautious and ignore any suspicious emails received during that period.
Bobby Ong from CoinGecko also confirmed the breach, suggesting that hackers may have accessed sensitive information, including emails. These cybercriminals often employ tactics like sim swapping to steal identities and gain access to confidential data. Phishing scams involving fake token launches and malicious links in emails are commonly used to deceive unsuspecting victims.
Phishing scams aim to trick users into revealing important details about their cryptocurrency wallets or exchange accounts, such as passwords, seed phrases, or private keys. These scams often lead users to fake websites impersonating reputable companies in the crypto industry.
During periods of rising cryptocurrency prices, known as bull markets, scammers tend to be more active as new, inexperienced investors enter the market. Previously, companies like OpenSea, Ledger, and Celsius have fallen victim to similar email scams.
Given the current threat landscape, it is crucial for users to remain vigilant. Here are some precautions to consider:
1. Verify email sources: Always double-check the sender’s email address and the content of the message before clicking any links.
2. Avoid sharing sensitive information: Refrain from disclosing passcodes, backup phrases, or keys via email.
3. Enable two-factor authentication (2FA): Strengthen account security by enabling 2FA on all crypto accounts.
4. Stay informed: Keep track of potential threats by following official company blogs and social media accounts.
Tags: Hack