Visa: Token bridges were a favored target for thieves in 2022

According to the global payment provider Visa, 2022 became a record-breaking year for cryptocurrency thefts, with over $3 billion stolen in on-chain thefts. Cryptocurrency bridge services were a favored target for threat actors.

Visa published the biannual threats report on March 20. On 24 pages, the document contains data on all sorts of violations that occurred in the digital payments system globally last year — from plastic card fraud schemes to malware. A separate section is dedicated to cryptocurrency and digital platforms.It pays special attention to token bridges and their vulnerability.

The report also mentions a crypto-focused phishing campaign, whose actors were impersonating a crypto exchange company in emails to harvest the victim’s account login data. Once the real exchange prompts the threat actor for the two-factor authentication , he would use the spoofed site to prompt the victim to enter their 2FA information. And then would use the real 2FA from the spoofed site to complete the login process.

Source: News Formal (newsformal.com)

The report also mentions a crypto-focused phishing campaign, whose actors were impersonating a crypto exchange in emails to harvest the victim’s account login data.

That is because of the anonimity, we all love it for sure but how to prevent these acts? The question is “How crypto would be if the victims can access the thiefs’ identity? “

Blockchain tech getting better day by day and so are the scammers 😅

Not surprising when you rely on centralized systems. That's why Monero's privacy and security features are crucial for protecting your funds. MoneroIsTheBest

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