Cyren Security Blog

Cryptocurrency phishing attack nets over $1 million in a few hours

by Avi Turiel

With tremendous money to be made in a short period of time, phishing has become commonplace within the cryptocurrency exchange world, particularly at the moment when a new currency comes along and debuts with its initial coin offering (ICO), an event not unlike an initial public offering with corporate stock. Initial coin offerings are happening with frequency as there are now over 1,200 (and counting) cryptocurrencies out there. Phishers are exploiting the ICO frenzy by first hacking into these participant email databases and then sending phishing emails to ICO participants, with instructions to deposit funds into the phisher’s cryptocurrency account.

 

Business Email Compromise (Imposter) Attacks Are Not Going Away

by Duncan Mills

Business email compromise (BEC) attacks have been increasing in number over the last few years, driven by their relative success rate compared to other financially motivated attacks. They appear to be quite simple – the attacker sends an email to the intended victim, usually a member of the finance team, and requests that they transfer money to an account controlled by the attacker. But why would the victim do so? Well, the attacker has actually invested a fair amount of time and effort into crafting the attack. He uses various social engineering tactics to generate a sense of urgency. He has researched the target organisation, understands the chain of command and the email will appear to have been sent from a member of the leadership team, often the CEO, hence the alternative names for this type of attack – CEO fraud or imposter emails.

Facebook Users Hit With Coinminer Malware

by Maharlito Aquino and Kervin Alintanahin

The value of Bitcoin virtual currency just hit a new all-time high, and with it an increasing number of malware threats are targeting users to "borrow" their PC's CPU for use in mining the precious cryptocurrency, something we last wrote about in October here. Once executed, a significant spike in CPU resources can be seen by the user in the active processes list (if they look...).

Interview with a Botnet Hunter

by Avi Turiel

In this interview, Cyren botnet expert Geffen Tzur explains how botnets work and gives a view from the trenches on successes and challenges in fighting botnet cybercrime.

Analyst Report: Phishing Attacks Are a Business Problem, Not an IT Problem

by John Callon

Successful phishing attacks are all over the news and a top concern for IT managers, but how do you make the business case for adding more advanced email and web security? In a new report, security industry analyst Derek Brink of the Aberdeen Group has crunched the numbers and put $$$ on the real risks and cost impact to businesses of phishing attacks, giving calculations for companies of different sizes and in different industry sectors. A complimentary copy of the report is available for free download.

New Scarab Ransomware Using Necurs-as-a-Service

by Magni Reynir Sigurðsson

The new Scarab ransomware being distributed via email by the Necurs botnet appears to come from scanning devices or services like HP, Epson or Lexmark. While there are similarities to the Necurs-distributed Locky ransomware, Scarab seems to have been developed by a different malware author. Necurs began actively distributing Scarab on November 23rd (Thanksgiving Day in the U.S.). Cyren's security cloud blocked 13.3 million emails containing the Scarab attachment that day.