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Kaspersky reported Cybercriminals earned $2.3 million from crypto scams

Kaspersky reported Cybercriminals earned $2.3 million from crypto scams

August 20, 2018 5:25 am,

In a local newspaper, a new report came that, Kaspersky Lab reported during the second quarter of 2018, cybercriminals earned over $2.3 million from cryptocurrency scams. In its Phishing and Spam in Q2 2018 local newspaper report, the company has revealed that it’s anti-virus prevented almost 60,000 user attempts from fraudulent web pages that featured cryptocurrency exchanges and wallets between April to June in 2018.

As reported by the local newspaper, Kaspersky said that cybercriminals earned the money by leading their victims to send their coins to fake token distributions and Initial Coin Offering (ICO). However, they are not just fake token sales but also illegal websites faking to be popular cryptocurrency services that have targeted the victims.

Kaspersky, in the first quarter, discussed the spams designed to exploit General Data Protection Regulation (GDPR), which was seen to come into effect on May 25, 2018. However, initially, the spam before had its limitations to the extend of educational events and purchase databases or software. Fraud emails came into the picture during the second quarter, as predicted.

The report in the local newspaper also gave some suggestions to the global reach of phishing scams, most actively seen in Asia and South America. Brazil alone shows 15.51 percent of all phishing scams attacks during that time, followed by Georgia and China with 14.44 percent, Kirghiztan at third place with 16.6 percent and forth and last place by Russia with 13.27 percent.

Nadezhda Demidova, the lead web content analyst for Kaspersky, said that the repeated attacks on financial organizations (digital currency) also indicated that more people are using electronic money these days. He also added in the company official news release at the Press that not all people using electronic currency (digital currency such as bitcoin or any other coin) are aware of the risk that is involved and taking advantage of that the intruders are actively working on stealing sensitive information through phishing.