Crypto Criminals Blackmail Instagram Users To Scam Friends

[ad_1]

Account security is always a concern when posting personal information to the web. But a new generation of crooks are emerging, using a particularly devious combination of social engineering, cryptocurrency, and old-fashioned blackmail. The scam is increasingly common on Instagram, where popular account holders are targeted and coerced into helping their followers scam with fake videos.

The technique is recounted in a Motherboard report. There are a few variations, but it basically boils down to three steps. First, a thief gets hold of an Instagram user’s account information, either by sending a phishing link with a fake login page or by finding a reused password from one of the near security holes. constants already available. Then the thief contacts the account holder and forces them to record a video of themselves, recommending their subscribers to invest money with “a friend”. The video claims that you can quickly triple your investment through Bitcoin or other get-rich-quick schemes. The criminal promises to return control of the account to its rightful owner in the end. The victim posts the forced video with a payment link, their subscribers are cheated of huge sums of money through cryptocurrencies or purchases or simple money transfers, and the criminal disappears, usually without returning the account. Instagram.

This new form of socialized theft is particularly distressing, as it forces the victim to become an active participant in the theft of his followers. While there is no real-world equivalent, you could compare it to an assailant jumping you in an alleyway and forcing you to go home and stick with your friends and family, then come back with the product.

With Bitcoin and other cryptocurrencies currently receiving a dose of legitimacy via nationwide advertising campaigns from crypto exchanges, not to mention the constant news of crypto booms in economic circles, it’s no wonder that social media users are particularly mature targets. Combining this opportunity with forced victim approvals and taking advantage of Instagram’s sometimes labyrinthine account recovery systems is proving to be a particularly nasty and effective technique.

Check out Motherboard’s full report for more details on how this scam works. The best way to protect yourself is to stay vigilant against phishing techniques, enable two-factor authentication, and use password discipline, without ever repeating website login credentials to another. other. An easy way to improve your personal online security is to start using a password manager.

Michael is a former graphic designer who has been building and tweaking desktops for longer than he wants to admit. His interests include folk music, football, science fiction, and salsa verde, in no particular order.

[ad_2]