Cybercrime Attacks Prompt FBI to Issue Vital Warning

The Federal Bureau of Investigation is alerting the public of recent and ongoing cyber attacks that are targeting cryptocurrency accounts.

These consist of scams that target vulnerable individuals, tempting them to buy cryptocurrency from a suspicious source, as well as attacks on crypto holders that seek to steal their identity, passwords, or other personal information.

The hackers are coming from the Democratic People’s Republic of Korea (also known as North Korea), says the FBI. The attacks are often very hard to detect and have been specially engineered to attract susceptible people. The hackers are focusing their efforts on people who work at cryptocurrency companies, trying to get their personal data so that they can get into crypto servers and access exchange platforms.

The warning extends even to those who are knowledgeable about cryptocurrency and cybersecurity, says the statement. The hackers have used very complex and dedicated methods to take advantage of their victims. Because of the nature of these attacks, even people who are normally careful about their own security and who understand cryptocurrency well will be at risk.

The FBI is expecting more such attacks over the coming months, especially as new crypto products like ETFs have been released. These give hackers new ways of reaching their victims since they are new products that may be unfamiliar to some victims, and hackers can exploit them.

The hackers are working through social media platforms and professional platforms like LinkedIn to get at their victims.

What Individuals Can Do

In this release, the FBI gives a number of steps that people can take to protect themselves.

At the top of the list is a warning about using professional networking sites and employment websites. If someone requests to make contact there, then it is wise to make the initial contact through a live video chat so that you can confirm their identity. Communication should be kept on a closed, well-known platform rather than taken outside of these safe channels.

Secondly, the FBI advise individuals to not store their crypto wallets or passwords on any device that is connected to the internet. These devices are vulnerable to hacking. To further protect yourself, you can use multi-factor authentication to access any crypto accounts.

Individuals should also change passwords regularly and perform security checks on all of their accounts.

Finally, individuals can protect themselves by doing code executions and testing for employment on virtual machines or on devices that are not used for company business.

Any suspicious activity should be reported to the FBI Internet Crime Complaint Center.