As per some available data, crypto phishing scammers are allegedly earning a five-figure income in a week, yet the gathered income is collected by impersonating support of Coinbase resulting in exploiting leaked data to victimize crypto executives and software engineers in higher positions.
The information about this event came into the spotlight after the CEO of Casa Bitcoin custody provider had an unprecedented conversation with the bad actors during an attempted phishing attack.
Nick Neuman is the Chief Executive Officer of Casa who is among the leading crypto moguls in the digital assets market. He also posted a video over the incident on his official X account noting that “ Recently I was called by someone pretending to be Coinbase support, trying to steal bitcoin. I decided to turn the tables on him and ask him about being a scammer.”
Scammers Earning Over $30k a Week!
As we all know the price of cryptocurrencies has shown many major advancements in the past few years, and Bitcoin recently crossed the milestone of $95k. It is worth noting that despite disconnecting the call, the scammer continued to discuss their operations with Nick when asked about the motive and way to commit such events.
The scammer quoted while talking to Nick “We make a minimum of five figures a week; we hit $35,000 two days ago.” He further said their primary targets are CFOs, CEOs, and software engineers.
A bad actor over the call with the CEO said that they had collected the data of their target from Unchain Capital, a Bitcoin financial service. Coinbase is among the leading centralized cryptocurrency exchanges with over 8 million monthly transacting users the application of the exchange available on the Play Store has more than 54 million downloads.
In general terms, Phishing scams are the type of scamming technique in which a bad actor sends a malicious link to the victim through different messaging applications, portraying it as a security alert, once the individual receives the link tap on the same his/her information.
Phishing scams are quite common in the broader finance market, every year millions of investors and innocent traders get affected by these kinds of activities, resulting in severe losses.
It is crucial to note that the usage of crypto mixers has surged at an appreciable pace in recent years.
A crypto mixer is a software/application that helps a person to whitewash the origin and designation of the crypto tokens, majorly leveraged by bad actors to avoid being caught after scamming or wiping out funds from the general investors.
In terms of usage, Toronado Cash is one of the known crypto miners in the wider market followed by ChipMixer, YoMix, Mixer, and Mixer Money among many others.
The mixing process consists of two main steps. First, users deposit Ether (ETH) or other tokens into a mixer contract using their address A. This step begins the process of anonymizing the funds.
After a user-defined waiting period, the users can withdraw their tokens. The withdrawal is completed through a transaction to a new address B, ensuring the source of the funds is untraceable.
