News
Coinbase leads cryptocurrency phishing targets in latest survey
Coinbase is the most personified brand in the cryptocurrency industry, Cointelegraph reported, citing a recent study. Phishing attacks, which trick investors into sending digital assets to scammers, predominantly target Coinbase among US crypto firms. Over the past four years, 416 phishing attacks have been reported using the Coinbase brand.
Some of the tactics used by scammers include sending emails that purport to be legitimate communications from the cryptocurrency exchange. Such emails are sometimes part of a file phishing scheme, a tactic that has made Coinbase the most personified brand in the cryptocurrency industry.
This revelation is part of a larger report highlighting the rampant imitation of big brands by scammers, who target unsuspecting victims in the world of digital finance. The Mailsuite report, which analyzed more than 1.14 million scams, revealed that 249,000 incidents involved attackers impersonating a company.
Between these,
CoinBase has stood out for its high profile in the cryptocurrency market. With over $1.8 billion in daily trading volume and a trust score of 10/10, Coinbase’s popularity makes it an attractive target for scammers.
While Coinbase is a leader in the cryptocurrency industry, traditional finance and tech giants are not immune to these threats. Meta, Facebook’s parent company, has been impersonated in at least 10,457 reported scams over the past four years, making it the most targeted non-crypto brand. After Meta, the US Internal Revenue Service was impersonated in 9,762 scams.
Improve safety protocols
Scammers often use sophisticated techniques to imitate legitimate communications, making it critical for users to verify the authenticity of any unsolicited requests for personal or financial information. Both Coinbase and Meta face significant challenges in combating these impersonation scams. Efforts are underway to educate users, improve safety protocols, and quickly address reported incidents.
A recent study by Finance Magnates and FXStreet confirms the growing increase in scams. It was found that as many as 38% of traders who lost funds mostly came across clone brokers and signal providers, rather than any other type of scam. 631 traders participated in the survey, sharing their experiences with online scams.
After clones of legitimate platforms, investments and Ponzi schemes were the other key sectors targeted by scammers to lure their victims. About 35% of traders who have lost funds have come across such scams. When it comes to phishing emails or messages, 19% of traders who lost funds have come across such scams, while 8% have fallen victim to fake news.
Coinbase is the most personified brand in the cryptocurrency industry, Cointelegraph reported, citing a recent study. Phishing attacks, which trick investors into sending digital assets to scammers, predominantly target Coinbase among US crypto firms. Over the past four years, 416 phishing attacks have been reported using the Coinbase brand.
Some of the tactics used by scammers include sending emails that purport to be legitimate communications from the cryptocurrency exchange. Such emails are sometimes part of a file phishing scheme, a tactic that has made Coinbase the most personified brand in the cryptocurrency industry.
This revelation is part of a larger report highlighting the rampant imitation of big brands by scammers, who target unsuspecting victims in the world of digital finance. The Mailsuite report, which analyzed more than 1.14 million scams, revealed that 249,000 incidents involved attackers impersonating a company.
Between these,
CoinBase has stood out for its high profile in the cryptocurrency market. With over $1.8 billion in daily trading volume and a trust score of 10/10, Coinbase’s popularity makes it an attractive target for scammers.
While Coinbase is a leader in the cryptocurrency industry, traditional finance and tech giants are not immune to these threats. Meta, Facebook’s parent company, has been impersonated in at least 10,457 reported scams over the past four years, making it the most targeted non-crypto brand. After Meta, the US Internal Revenue Service was impersonated in 9,762 scams.
Improved security protocols
Scammers often use sophisticated techniques to imitate legitimate communications, making it critical for users to verify the authenticity of any unsolicited requests for personal or financial information. Both Coinbase and Meta face significant challenges in combating these impersonation scams. Efforts are underway to educate users, improve safety protocols, and quickly address reported incidents.
A recent study by Finance Magnates and FXStreet confirms the growing increase in scams. It was found that as many as 38% of traders who lost funds mostly came across clone brokers and signal providers, rather than any other type of scam. 631 traders participated in the survey, sharing their experiences with online scams.
After clones of legitimate platforms, investments and Ponzi schemes were the other key sectors targeted by scammers to lure their victims. About 35% of traders who have lost funds have come across such scams. When it comes to phishing emails or messages, 19% of traders who lost funds have come across such scams, while 8% have fallen victim to fake news.