100K Crypto-theft Attempts Thwarted By Kaspersky Lab In Russia

In recent reports by the cyber-security experts operating from Kaspersky Lab in Russia, 100,000 attempts at cryptocurrency crimes in 2018 have been thwarted already. The number was calculated during detailed analysis of the attacks and the company has assisted users in securing their digital assets and protected online wallets.


According to the lab, cryptocurrency thieves are taking advantage of the emerging technology and scamming all types of investors and users into essentially handing over their own assets. The security company also analyzed hacked wallets which accumulated to a total around $10M in Ethereum tokens being stolen due to the malicious scams. 

Criminals conned users into handing over more than 20,000 Ethereum tokens. The entire cost of every hack since the beginning of the year is not part of Kaspersky’s Ether wallet analysis, as direct online wallets have also been broken into and funds were removed. Kaspersky Lab highlighted the significant focus on ICO’s and how criminals have favored them as a target. 

The company said that criminals had no difficulty digging up information about any involved member in an initial coin offering and then scamming the user into directly funding a criminal wallet. Criminals disguise themselves as ICO operators and trick their victims into transferring assets directly to unrelated addresses. 

Fund Transfer

Hackers have also been known to initiate and launch misleading website pages and spread their presence online while also pretending to represent an ICO, resulting in further transfer scams. Fake wallet accounts have been created to represent leading figures in the industry such as Tesla icon, Elon Musk. 

Criminals use these fake personas and social sites to trick more victims into transferring funds under the pretense of free cryptocurrencies and transfer promotions. Kaspersky Lab has stated that a criminal’s efficiency essentially comes down to how good they sell a con. The lab also warned against advancements in criminal mining tools and efficient scam advertisements.

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