Euro Police Bust Multimillion-Dollar Crypto Fraud Gang
Criminal network may have made hundreds of millions from scams
Scams use deception to steal money, credentials, or sensitive data, making them a cybersecurity risk for individuals and organizations.
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Background for this topic.
Scams are deceptive schemes intended to make people surrender money, credentials, sensitive information, or access. In information security, they commonly use phishing messages, impersonation, fraudulent websites, business-email compromise, fake technical support, or malicious attachments. Their defining feature is manipulation: the attacker creates a credible pretext and pressures the target to act before verifying the request.
Security teams should treat scams as an attack surface spanning email, messaging, telephone calls, social media, and payment workflows. Material risks include account takeover through stolen credentials, unauthorized payments, disclosure of personal or company data, and malware execution from deceptive content. Useful controls include phishing-resistant authentication, secure payment-change procedures with independent verification, filtering and domain protections, user training focused on reporting, and rapid review of suspicious messages or transactions. Incident handling may require revoking sessions, resetting credentials, contacting financial institutions, preserving evidence, and notifying affected parties where applicable.
Criminal network may have made hundreds of millions from scams
If the investment opportunity sounds too good to be true … European cops arrested 15 suspected scammers and shut down a multi-country network of call centers selling fake cryptocurrency that law enforcement said stole upwards of hundreds of million euros from victims.…
Cryptocurrency wallet provider MetaMask is warning users of a new scam called 'Address Poisoning' used to trick users into sending funds to a scammer rather than an intended recipient. [...]
Multiple call centers across Europe controlled by a criminal organization involved in online investment fraud were taken down this week following a cross-border investigation started in June 2022. [...]