Phishing uses deceptive messages to steal credentials or deliver malware, while user verification, MFA, and email filtering reduce the risk.
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Background for this topic.
Phishing is deceptive communication—by email, text, phone, or a fake website—that impersonates a trusted person or service to make someone disclose credentials, approve a transaction, reveal sensitive information, or run harmful software. Attackers use it to bypass technical controls by persuading a legitimate user to perform an action, and may target employees, customers, administrators, or suppliers.
Its impact can include account takeover, unauthorized payments, exposure of personal or business data, and access to internal systems. The most effective control for stolen-password phishing is phishing-resistant multi-factor authentication, such as hardware-backed passkeys or security keys, which binds authentication to the legitimate site. Organizations should also filter and authenticate messaging where possible, use password managers, restrict risky actions, train users to verify unusual requests through a separate channel, and provide rapid reporting so suspected credentials or sessions can be revoked.
Legal Moves: Crypto Theft Lawsuit; Hospital Sues LockBit GangIn the latest weekly update, ISMG editors discussed why crypto-seeking drainer scam-as-a-service operations are thriving, a novel legal move that recovered a hospital's stolen data, and a ground-breaking case involving bitcoin that could streamline recovery for victims.
Also: FBI Warning About Androxgh0st; eBay Pays a $3 Million Fine for CyberstalkingThis week, Microsoft expanded plans to store EU citizens' data locally, shipping-themed phishing spam is a threat, the British Library overcame a ransomware setback, the FBI warned of Androxgh0st malware, Remcos RAT targeted South Korea, and eBay was fined $3 million for a cyberstalking campaign.
'Coldriver' Has Been Sending Backdoors Embedded in PDFs Since November 2022A Russian domestic intelligence agency hacking group known for long-lasting logon credential phishing campaigns against Western targets is now deploying malware embedded into PDFs, say security researchers from Google. "Coldriver" is using a family of backdoors Google dubs Spica.
Robert Blumofe on DDoS Attacks, API Security, Zero Trust and FIDO2-MFARobert Blumofe, executive vice president and CTO at Akamai, expects social engineering, phishing, extortion and AI-driven attacks to dominate the threat landscape. He advised enterprises to use FIDO2-based MFA, zero trust, microsegmentation and API security to reduce risks.
$295 Million in Digital Assets Lost Last Year to Wallet Drainers, Researchers WarnCryptocurrency phishing scams designed to send crypto owners to fake versions of legitimate sites, recently disseminated via hijacked high-profile social media accounts, highlight the ongoing use of drainer scam-as-a-service offerings, which researchers say last year led to $295 million in losses.