Bitcoin Scam Run by Fake Exchange, Report Says

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Blockchain & Cryptocurrency , Cryptocurrency Fraud , Fraud Management & Cybercrime

Fraudsters Deploy MFA to Give Victims False Sense of Security Rashmi Ramesh • September 9, 2021    

Researchers at security company Proofpoint have discovered email fraud campaigns in which unidentified threat actors are swindling victims out of bitcoin by tempting them with a substantial amount of tax-free cryptocurrency.

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The report comes on the heels of a U.S. Securities and Exchange Commission warning about fraudulent cryptocurrency schemes making the rounds.

In these latest campaigns, bad actors employ social engineering tactics and send potential victims functioning sets of login credentials to fake cryptocurrency exchange platforms, the researchers say.

The credentials, the victims are told, offer access to hundreds of thousands of dollars’ worth of cryptocurrency from an already established

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