With the skyrocketing popularity of cryptocurrency investments, especially Bitcoin, comes a concerning trend: an increase in scams preying on unsuspecting investors. In recent weeks, Whalebone has observed a surge in targeted phishing and smishing campaigns, specifically aimed at users of popular crypto exchange services like Binance and Coinbase.
These nefarious campaigns are not limited by borders; they have been detected across the globe. However, our observations reveal a particularly alarming trend in Western and Northern Europe. Countries such as Germany, Austria, the Czech Republic, Finland, and Denmark have seen a significant uptick in localized phishing attempts, tailored to deceive users in these regions.
Example of a fake cryptocurrency website targeting German and Austrian users
What sets these scams apart is their evolving sophistication. They are no longer content with targeting end-users alone. Instead, scammers are now setting their sights on employees of crypto service providers and even regulatory bodies like the FCC. Their methods have become more refined, employing advanced phishing kits designed to bypass two-factor authentication measures.
Development of observed domains impersonating crypto exchange services over the past month
As the value of Bitcoin continues to climb, it is crucial for investors and service providers alike to remain vigilant against these fraudulent schemes. Having Protective DNS, such as the one provided by Whalebone, can safeguard users against such malicious websites, as it blocks connection to them, rendering them useless.