Microsoft Security Detected Hackers Targeting Cryptocurrency Company

Microsoft Security has investigated and discovered an attack by malicious actors targeting various crypto investment firms.

Microsoft recently investigated an attack in which a threat actor, tracked as DEV-0139, took advantage of Telegram chat groups to target crypto investment firms.

DEV-0139 joined Telegram groups used to facilitate communication between VIP clients and cryptocurrency exchange platforms and identify targets among members.

The threater pretended to be a representative of another crypto investment company and in October 2022 invited the target to another chat group and pretend to ask for feedback on the fee structure used by cryptocurrency exchange platforms.

After gaining the target’s trust, DEV-0139 then submitted a weaponized Excel file with the name OKX Binance & Huobi VIP fee comparision.xls containing several tables on the fee structure between the exchange companies. exchange cryptocurrencies. Data in documents are likely to be accurate to increase their reliability. And of course it also contains a malicious code that can remotely access the infected system of the victim.

The cryptocurrency market has always been the prey of hackers. Although loss protection can happen often, but because of the high value, attackers still try to use computerized methods to be able to exploit the vulnerability.

A staggering $1.9 billion worth of cryptocurrency was stolen in hacks of various services in the first seven months of this year, marking a 60% increase from the same period in the year prior, according to a report released from blockchain analysis firm Chainalysis.

The surge comes even as the value of many cryptocurrencies plunged in the first half of this year. The report attributed much of the spike to hacks on decentralized finance (DeFi) protocols.

Therefore, cryptocurrency projects need to pay special attention to security issues, but users must also raise awareness and regularly update scam methods to be able to recognize them and avoid losing money.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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