Cryptocurrency has been slowly trickling into the mainstream, but crypto scams have picked up a really fast pace and are burning holes in virtual wallets.

What’s going on?

BTS fans are the target of a massive crypto scam on Twitter. For a little more than two weeks, cryptocurrency-related posts started appearing on timelines of BTS fans, known as Adorable Representative MC for Youth (ARMY). Some of these accounts were being tagged in giveaways to random users. Now, the problem arose when an investigation unveiled that a lot of these accounts had permeated genuine Twitter handles and diverted followers to their accounts.

What does this imply?

Some of the ARMY accounts were found to have been sold to dubious cryptocurrency accounts and every ARMY-related post was replaced by crypto posts. Scammers have been looking for easy targets and unfortunately, K-Pop fans fell right into their mixture.

What else?

  • According to a new report published by Akamai, operators of a cryptocurrency botnet have launched a campaign that can evade detection. These criminals are exploiting Bitcoin transactions to execute illegal cryptomining activities.
  • WatchDog, a Monero cryptojacking malware, was spotted running undetected for more than two years.
  • The North Korean state-backed APT group Lazarus was discovered using the AppleJeus malware for cryptocurrency theft.

The bottom line

The threat landscape has been greatly disrupted by the onslaught of constant crypto-related scams and attacks in recent years. This does not only sabotage individuals but also businesses alike.

Cyware Publisher