Unveiling a Cybersecurity Threat: Recent findings by the cybersecurity firm SlowMist have shed light on the disturbing levels of phishing attempts on social network X. An extensive analysis indicates that a staggering 80% of comments under well-known crypto project publications are phishing endeavors.
The Market for Malicious Accounts
SlowMist’s report uncovers a dark market on Telegram where scammers buy and sell social network X accounts. These accounts, often mimicking legitimate crypto projects, are equipped with varying numbers of followers and historical registration data to appear credible.
Trust Through Artificial Popularity
Upon acquiring an account, scammers employ third-party advertising tools to artificially inflate their trustworthiness. By boosting followers and engagement, they position their profiles to lure unsuspecting users on social network X, with such services frequently accepting cryptocurrencies as payment.
Imitation Game: Bots and Fake Profiles
Scammers then clone the identity of existing projects, using bots to monitor and immediately comment on new posts by the original account. This tactic creates the illusion of a legitimate connection, with the majority of these deceptive comments being tied to crypto projects and leading to phishing sites designed to siphon off user assets.
Tracking the Phishing Network
Utilizing the MistTrack tool, analysts have traced some of the digital fingerprints back to the culprits, revealing a complex network dedicated to spreading these harmful links.
The Cost of Deception
Scam Sniffer reports from the previous year show that wallet drainers have amassed $295 million in stolen cryptocurrencies, victimizing around 324,000 individuals in 2023 alone. The continuous evolution and refinement of phishing attacks pose a serious escalation in this cyber menace.
English