Cryptocurrency Heist: A $11 Million Smishing Attack Unveiled
by aria-crypto.com
November 21, 2024 at 17:13
Cryptocurrency Heist: A $11 Million Smishing Attack Unveiled
A sophisticated group known as Scattered Spider has been indicted by US authorities for masterminding an $11 million cryptocurrency phishing scam. This operation primarily targeted corporate employees, utilizing SMS-based phishing, or "smishing," to deceive victims into surrendering sensitive login details under the guise of legitimate corporate communications. Between September 2021 and April 2023, the scam involved sending fraudulent messages threatening account deactivation and redirecting to fake websites where employees inadvertently compromised their credentials. The criminals not only breached corporate networks but also accessed personal crypto wallets, ultimately draining $11 million in digital assets. The accused, a young and tech-savvy group with aliases such as ‘AD, Sosa, Elijah, joeleoli, and others, face charges that could lead to up to 20 years in federal prison for wire fraud along with additional penalties for associated crimes. This case underlines the critical need for heightened security and awareness in handling digital assets amidst growing decentralization and sophistication in cyberattacks.
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