What are the common types of account takeover fraud in the cryptocurrency industry?

1 answers

• Dec 25, 2021 · 3 years ago
  Account takeover fraud is a significant concern in the cryptocurrency industry. Fraudsters employ various tactics to gain unauthorized access to users' cryptocurrency accounts. Phishing attacks are a common technique, where fraudsters create fake websites or emails that mimic legitimate cryptocurrency platforms to trick users into revealing their login credentials. SIM swapping is another prevalent method, where fraudsters convince a mobile carrier to transfer a victim's phone number to a SIM card under their control, allowing them to bypass two-factor authentication. Malware attacks are also a major threat, where fraudsters install malicious software on a user's device to capture login credentials or manipulate transactions. To protect against account takeover fraud, users should be cautious of suspicious links or emails, enable two-factor authentication, and regularly update their devices and software.
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