Security

Crypto phishing scams are on the rise

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July 19, 2021

Cryptocurrency phishing scams are increasing in countries that are seeing a rise in cryptocurrency popularity, according to Avast, a digital security company. Countries such as the U.S., Brazil and Nigeria are the largest targets in these scams, according to a press release.

"This surge in bitcoin is having a knock-on effect across the wider crypto space and some analysts are even predicting that 2021 will be a record-breaking year for cryptocurrencies," Peter Kovac, senior analyst at Avast, said in the release. "However, as it has grown in popularity, it has also grown as a more lucrative target for hackers - and our researchers have found the levels of crypto-related scams are most prevalent in regions where cryptocurrencies are gaining popularity."

In order to protect yourself, Avast recommends that you:

• Install antivirus software.
• Choose cryptocurrency wallets with strong security.
• Be wary of unsolicited emails with subject lines such as "crypto giveaways" or "we will invest your money for you."