in

Scammers Pay Six Figures for Misspelled Crypto Website Domains Hoping To Dupe Victims: Report

Scammers Pay Six Figures for Misspelled Crypto Website Domains Hoping To Dupe Victims: Report


Fraudsters are reportedly forking out hundreds of thousands of dollars to purchase mistyped website addresses related to cryptocurrency businesses in the hope of duping victims.

The Washington Post says mistyped domain names are used to lure visitors into thinking they are dealing with legitimate cryptocurrency businesses.

 

According to the report, one Brazilian male spent Bitcoin worth over $200,000 to buy mistyped domain names, including wwwblockchain.com, hlockchain.com, and blpckchain.com, between November 2020 and February 2021. The three mistyped domain names are designed to appear similar to crypto infrastructure provider blockchain.com.

The Brazilian also spent over $16,000 to buy conibase.com, which was created to look like popular cryptocurrency exchange Coinbase.com.

A .com domain name costs about $10 on average when first registered. It can then be resold for significant profits on reseller websites by domain

Stony Brook University computer science professor Nick Nikiforakis told The Washington Post that conibase.com appears to be a “phishing tool kit” and is likely targeting high-net-worth individuals.

“You’re not going after me and you with a few hundred bucks in your Coinbase accounts, but people with millions of dollars in their crypto accounts.”

Zack Allen, a cybersecurity expert at ZeroFox, tells The Washington Post that conibase.com is a sophisticated spoofing website employing various detection avoidance techniques such as automatically detecting bot-like visitors and redirecting them to Google instead of the fake website.

According to the report, these evasion techniques are commonly used by cybercriminals to avoid detection and block unwanted visitors from landing on their fake websites.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix
 

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Voger Design/Andy Chipus





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Mid Post Ads

Vitalik talks DAOs, Ethereum and NFTs in new interview

Just 10 Days After El Salvador’s “Bitcoin Day”, President Bukele Confirms 1.1 Million Citizens Have Chivo Wallet

How Steady State Will Revolutionize Insurance for the DeFi Industry