Cisco: Bitcoin Phishing Scam Bagged $50 Million Over 3 Years

Security researchers at Cisco have released new information about a bitcoin phishing scam that involves websites masquerading as Blockchain.info, the popular online wallet service.

In a blog post published Wednesday, Dave Maynor and Jeremiah O’Connor detailed the Coinhoarder phishing scam, which they said Cisco has been investigating in the past six months in partnership with the Ukrainian Cyberpolice. All in all, they said that those behind the scam had netted $50 million in cryptocurrency over a three-year period.

“The campaign was very simple and after initial setup the attackers needed only to continue purchasing Google AdWords to ensure a steady stream of victims,” they wrote. “This campaign targeted specific geographic regions and allowed the attackers to amass millions in revenue through the theft of cryptocurrency from victims. This campaign demonstrates just how lucrative these sorts of malicious attacks can be for cybercriminals.” […]

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