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Researchers at Proofpoint have detected a new series of email fraud campaigns trying to lure potential victims with the promise of a considerable amount of tax-free cryptocurrency.
In this new Advance Fee Fraud scheme, scammers employ advanced social engineering tactics and send potential target functioning sets of login credentials to fake cryptocurrency exchange platforms and then tempt victims with the promise of being able to withdraw hundreds of thousands of dollars worth of cryptocurrency from an already established account on the platform.
Sophisticated Campaigns
Although similar to other conventional Advance Fee Fraud techniques, these new campaigns are highly sophisticated from a technical point of view and are fully automated. They also require substantial victim interaction as a victim would first need to login into the platform and create their own account on it to even begin trying to withdraw any cryptocurrency.
In a new write-up, Proofpoint researchers highlight the fact that the use of cryptocurrency is notable because it delivers anonymity for both the scammer and the potential target. Potential victims may fall into the trap of how the money would be acquired anonymously and tax-free
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Read the original article: Beware of New Advance Fee Fraud Scheme Targeting Cryptocurrency Users