A research paper submitted by Ernst & Young states that hackers stole about $400 million from 372 initial coin offerings over the last two years. There are several alarming elements to this. For those unfamiliar with how widespread cryptocurrency has already become, it may come as shocking to learn there are over 372 different coin offerings in existence. Next is the sheer volume of stolen funds; the rate calculates to around $1.5 million stolen per month. The final alarming element to even those familiar with the technology is the presence of such numerous vulnerabilities.
The biggest vulnerability of cryptocurrency lies between the desk chair and the keyboard: the user. According to the E&Y report, the most common attack used in the theft of cryptocurrency was phishing attacks. Phishing attacks are designed to trick the victims into clicking on malicious links. At this point you may question how you can protect yourself from phishing attacks. A common tip we recommend, called “the hover method”, when combined with some common sense, could help prevent you from falling for a phishing email.
What makes phishing emails so difficult to detect is that the writer of the malicious email disguises the link to a malware site to look like a legitimate link or “click here” button. If you are using Microsoft Outlook, you can expose the actual contents of the link. Simply “hover” your pointer over the suspect link and wait for a couple of seconds. As you can see in the illustration below, the actual link will pop up. Take a good look at the link. If the suspicious email looks like it came from Microsoft, but the link points to a foreign web server, then it’s clear that the email is a fake. If the link is something other than what you might have expected, don’t click on it.
About McCann Investigations:
In today’s complex legal cases, evidence is rarely singularly digital or traditional, but begins in one realm and quickly cross over into the other. The days of an investigation involving merely taking statements and photocopying documents are all but things of the past. Modern evidence gathering requires the agility to go where the evidence leads, no matter the source.
This not only means overcoming the challenge of understanding the ever-evolving web of digital evidence, but owning the entire evidentiary space; The nexus of both the digital and the non-digital.
McCann Cyber runs the table in this space. We either have the digital or traditional expert you need on staff, or we know that expert…. personally. McCann operates its own dedicated state of the art digital forensics lab, staffed with certified technicians, supplemented with a former cyber prosecutor, veteran law enforcement investigators, government cybersecurity experts, and certified fraud examiners. McCann is the only turnkey solution for the gathering, processing, analyzing, and reporting all types of evidence, no matter the source. Our team, drawn from both government service and private industry, has the resources, knowledge, and experience to provide expert testimony ensuring the evidence is both relevant and defensible in all proceedings.
McCann Cyber IS that nexus.