What is Phishing in the Crypto World?

In the crypto world, phishing attacks are one of the most common types of hacking attacks that cybercriminals use. Then, what is phishing and how to avoid it?

What is Phishing?

Phishing is a cybercrime that attacks a target through a potential victim's personal contact such as an email address, phone number, or text message by the perpetrator.

Usually, phishers disguise themselves as part of a legitimate company in order to trick potential victims into providing personal data such as identification numbers (such as ID cards), credit card data, addresses and passwords to access their crypto asset repository.

By using these personal data, accessing crypto wallets such as exchange wallets and so on will be easier, so that the victim's account will be fully controlled by the phishing perpetrator. The crypto assets inside were stolen without a hitch.

Usually, victims will not immediately realize that they have been targeted by phishers before checking their crypto wallets and finding that their contents have been drained.

In general, phishing attacks fall into two types, namely spear phishing and fake browser extensions.

Spear phishing is a phishing attack that targets victims, makes contact with them via email messages and pretends to be staff of a company or crypto exchange. This is the type that most cybercriminals do.

And for these types of fake extensions, cybercriminals will create fake extensions from various applications, such as the popular private crypto wallet MetaMask and install in official extension stores such as the Chrome browser. To convince potential victims, perpetrators often advertise these fake extensions.

How to Avoid It?

Even though it looks terrible, phishing attacks can still be avoided with various efforts, which of course prioritizes the accuracy of every crypto investor.

To avoid spear phishing attacks, when you receive email messages and the like asking you to provide personal data, including account passwords, you need to check the authenticity of the sender's email.

Although the message will look very professional and genuine, the email address of the Spear Phishing perpetrator will certainly be slightly different from the real email address of the crypto exchange or company they are spoofing.

And to avoid Fake Extensions for Browser type attacks, make sure you only download extensions from official providers. For example, for the MetaMask crypto wallet extension, you can directly download it on the official MetaMask website, not from other extension stores, even if from Google Chrome.
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