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KnowBe4 Scam of the Week: Cryptocurrency Scams, More Than a "Bit" Unsettling

Cryptocurrency is now being used by the bad guys to scam you. If you’ve never heard of cryptocurrency, it is a digital currency that uses encryption methods to secure transactions. Completely managed online, it’s a “no banks for your bucks” type service.

Cryptocurrencies, like Bitcoin and Ripple, are appealing to individuals looking to make an investment. Unfortunately, the bad guys are making an investment of their own - it involves you being fooled!

Here’s how the scam goes: The bad guys send phishing emails claiming there was a bitcoin (BTC) transaction made to, or from, you. It mimics the alert you would normally receive from an online wallet. Something like,

“A payment of 0.791049 BTC has been received into your wallet and is pending confirmation.”

Then they ask you to click a link to view or confirm your transaction. The bad guys expect you to click without thinking, since it involves your finances! That’s when the bad guys win.

The best way to combat this scam? STAY ALERT! Don’t be a victim. Before clicking a link within an email, hover over it to see where it will take you.

 Let's stay safe out there!

  Stop, Look, and Think. Don't be fooled. 

 The KnowBe4 Security Team