FBI issued serious Bitcoin and crypto alert

[ad_1]

The surge in bitcoin and cryptocurrency prices this year, making crypto a market of over $ 1,000 billion, has attracted a wave of cybercriminals.

Bitcoin-demanding ransomware attacks and social media-based crypto scams have become commonplace as a sudden influx of new users pour billions of dollars into digital assets (subscribe now to Forbes’ CryptoAsset & Blockchain Advisor to stay ahead of the market).

Now, the Federal Bureau of Investigation (FBI) has warned bitcoin and cryptocurrency buyers, exchanges and payment platforms against the growing threat of criminals seeking to steal bitcoin and cryptoassets.

Sign up now for CryptoCodexa, a free daily newsletter for crypto-curious people that explains the world of bitcoin in short terms. Arrive in your inbox at 7:00 am EDT every day of the week

MORE FROM FORBES Leaked JPMorgan report reveals warning of extreme Bitcoin price volatility as Ethereum crash adds to $ 100 billion crypto routBy Billy Bambrough

Bitcoin’s phenomenal growth this year has made it and other cryptocurrencies an attractive target … [+] for criminals, according to the FBI.

Getty Images

The FBI alert, first reported by Bleeping Computer, warns users to be aware of attacks using tech support fraud, phone sim swapping, and identity theft.

The Sim swap, when the attacker asks an operator to transfer a phone number to a new SIM card that gives him access to SMS messages and incoming calls, has exploded in popularity in recent years, prompting an FBI warning in 2019 and advice from the Federal Trade Commission.

The rise in the number of criminals targeting those who hold bitcoin and digital currencies comes after the price of bitcoin climbed to around $ 65,000 per bitcoin in April, from around $ 10,000 last year, before s’ collapse. Bitcoin is currently trading at around $ 32,000. Other smaller cryptocurrencies, such as ethereum and mem-based dogecoin, have seen their prices rise even more.

“Cybercriminals target cryptocurrency users, exchanges and third-party payment platforms in the virtual asset industry, causing great financial loss for victims,” ​​the FBI alert, issued through a distribution system. information sensitive to selected groups and individuals called the Traffic Light Protocol, would have been read.

Once the stolen cryptocurrency has been transferred to accounts controlled by an attacker, it can be difficult for law enforcement to recover it, the FBI has warned.

The FBI has advised financial and crypto companies to verify the origin of emails and keep tabs on newly created accounts while those who buy bitcoin and cryptocurrency have been encouraged to use multi-factor authentication, which means they must have access to at least two devices or accounts linked to the platform to avoid. download requests, remote access applications and all unofficial corporate communication channels.

CryptoCodex A free daily newsletter for crypto-curious people. Help you understand the world of bitcoin and crypto, every day

MORE FROM FORBESCrypto Price Warning: Goldman Sachs Reports Surprising Future for Bitcoin and Ethereum PredictionBy Billy Bambrough

The price of bitcoin has climbed more than 250% since the same period last year, falling back after hitting a … [+] peak of $ 65,000 per bitcoin in April.

Coinbase

The warning comes after the FBI seized approximately $ 4 million in bitcoin paid to attackers of the Colonial Pipeline ransomware last month, although it is not clear exactly how the FBI recovered the funds.

Elsewhere, British police announced this week that they had seized nearly $ 250 million in bitcoin as part of a money laundering investigation.

“As cash remains king in the criminal world, as digital platforms expand, organized criminals are increasingly using cryptocurrency to launder their dirty money,” Deputy Deputy Commissioner of Police said metropolitan, Graham McNulty, in a statement.

[ad_2]