Phishing - the dangers and how to protect yourself

Overview - Phishing is a hacker tactic in which malicious actors primarily impersonate trustworthy legal entities to collect sensitive data from users. - Learn to recognize the key signs of phishing attacks, including fake URLs and urgent requests for personal information. - Familiarize yourself with the various phishing techniques, from traditional email schemes to specialized attacks targeting crypto investors.

What are phishing attacks

Phishing is a malicious technology where cybercriminals impersonate trusted organizations or individuals to manipulate users into revealing confidential information. It is one of the most common and effective methods of cyberattacks because it relies on human trust rather than technical vulnerabilities in the system. In this material, we will understand the mechanisms of phishing attacks, ways to protect against them, and the specific risks for users of crypto platforms.

How Cybercriminals Operate

Phishing is fundamentally a form of social engineering – a method in which attackers manipulate the psychology of people to gain access to confidential data. First, they gather information from public sources like social media, and then construct messages that appear authentic and from trusted senders.

Victims receive poorly crafted messages that appear to be from known contacts or authoritative organizations. In line with technological advancements, cybercriminals are now using AI voice generators and chatbots to make their attacks even more convincing. This poses a new challenge for users to distinguish between genuine communication and fraudulent messages.

How Phishing Attacks Evolve

There are many forms of attacks, classified according to technique and purpose:

Cloning and direct manipulation

The malicious actor compromises a legitimate email, copies its content, and modifies it with a link to a malicious site. They often claim that a new version of the attachment has been issued or that the previous one is invalid.

Professionalized phishing attacks

This type of attack is targeted at a specific individual or organization. The attacker first gathers information about the victim (names of acquaintances, family members, professional roles) and uses it to persuade the victim to open a malicious file or visit a fake website.

DNS poisoning (Pharming)

The cybercriminal manipulates the DNS record, redirecting users from the legitimate site to a fake one. This is particularly dangerous because DNS management is beyond the control of the average user.

Email spoofing

Phishing messages impersonate communications from a known company or individual. They include links to malicious websites or disguised login forms where authentication information and personal data are collected.

Targeted phishing against high-profile individuals

Known as “kitinglevering”, this type of attack targets executives, government officials, and other influential individuals with access to sensitive resources.

Paid Advertisements

Phishers use typosquatting ( registering domains with spelling mistakes ) and pay for ads that appear in search results. The user thinks they are clicking on the legitimate site but is redirected to a spoof.

Website Catching

In a “watering hole” attack, criminals identify websites that users frequently visit, scan them for vulnerabilities, and inject malicious scripts.

Spoofing in social media and the crypto space

Scammers impersonate influential figures, hack verified profiles, and change usernames to maintain their confirmed status. This is especially prevalent on platforms like Discord, X, and Telegram.

SMS and voice phishing

Attacks via text messages or voice calls that encourage users to reveal personal information.

Malicious applications

Applications that look like wallets, price trackers, or crypto tools, but actually collect users' personal data and money.

Signs of Phishing Attacks

Recognizing phishing messages is a critical skill. Pay attention to the following warning signs:

• Suspicious or malformed URLs
• Emails from public addresses instead of official corporate domains
• Urgent or threatening tones that provoke panic
• Requests for personal information, passwords, or financial data
• Spelling and grammatical errors
• Malicious attachments

Helpful tip: hover your cursor over the link to see the actual URL without clicking.

Types of phishing attacks in specific sectors

Financial and payment systems

Cybercriminals impersonate well-known payment services or banks, requesting confirmation of login data or revealing transfer details. New employees are often targets of scams related to transfers and direct deposits.

Crypto and blockchain space

In this sector, the risk is particularly high. Scammers attempt to gain access to private keys, seed phrases, or login data for crypto wallets. They can manipulate users through various techniques to transfer funds to fake addresses. While blockchain technology provides strong data security due to its decentralized nature, human vulnerability remains the main target of attackers.

Protection Against Phishing Attacks

To minimize the risk of successful phishing attacks, follow these principles:

For all users:

• Do not click directly on links from emails or messages. Instead, visit the company's official website directly.
• Install and maintain antivirus software, a firewall, and spam filters.
• Check the URL before entering any login information.
• Be skeptical of urgent or unusual requests.
• Report suspicious activity immediately.

For organizations:

• Implement email authentication standards such as DKIM and DMARC to verify incoming messages.
• Conduct regular training for employees on phishing and social engineering techniques.
• Hold periodic training sessions to raise awareness.
• Create clear procedures for reporting suspicious messages.

For crypto investors:

• Never share your seed phrases or private keys with anyone.
• Use only the official applications and websites of the platform.
• Activate two-factor authentication.
• Store critical data on hardware wallets.
• Double-check the recipient addresses before transfers.

Phishing against Pharming

Although some equate pharming with phishing attacks, their mechanisms differ. Phishing requires a mistake from the user (clicking a link or opening a file). Pharming does not impose a mistake on the user – the cybercriminal manipulates the DNS record of a compromised website, redirecting traffic to a fake version, even if the user types the correct address.

Expert Tips

For additional assistance, please contact:

• OnGuardOnline.gov - provides resources for internet security
• Anti-Phishing Working Group Inc. – an organization focused on the detection and investigation of phishing attacks
• The official internal security services of your organization

Final Recommendations

Understanding phishing attacks and evolving techniques is critical for the protection of personal and financial information. By combining robust technical security, education, and constant vigilance, both individuals and organizations can fortify themselves against the ongoing threat of phishing attacks in our digital world. Stay safe and remain vigilant!