Scammers get stronger with bots

Telegram and social media bots are making it easier to trick users into giving vital account information.

These bots use information from previous hacks to target users with personalized messages about their account.

The level of information included in these messages makes the scam email seem credible. These scams have cost users millions of dollars in digital currencies.

Strong passwords and two factor authentication (2FA) can make an account feel safe but it only takes one mistake to lose your funds.

Bots will send personalized messages through social media, email and even calls that contain personal information about the user. The scam will then ask for personal details such as a 2FA code as a way to verify the account. The second the user gives this information their account is compromised and emptied.

The personalized information used in these schemes comes from previous hacks. Plenty of top exchanges have had data leaks which have included personal information and even passwords of accounts.

Users who keep the same password across multiple sites are even more susceptible as the chances their data is leaked is increased.

Personalized information is now stored on telegram bots which can be purchased for cheap.

With only a $300 investment anyone can get a bot which is loaded with private information gathered from social media accounts.

These bots come with add-ons which include cryptocurrency exchange information and even Paypal and Venmo information. This information can then be used to target users with personalized messages.

To protect from these attacks users are warned to be careful of any emails, calls or private messages regarding their accounts.

Users are told if they are concerned over an email or call they should reach out to the company directly. Companies will never ask for passwords, 2FA codes or private keys.

According to a CNBC article posted earlier this year, cryptocurrency scammers have stolen more than $14bn in digital currencies in 2021.

These scams include rug-pull projects, DeFi hacks and phishing scams. While the amount of crimes happening has reduced, the size of the attacks has become bigger.


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Written by Tudor

Works as a developer and helps keeps the digital cogs turning. Leave them alone, they're busy.