Researchers specify: attacks are primarily focused on stealing digital currencies – attackers are targeting users of gaming platforms and cryptocurrency wallets. In 2021, law enforcers in the Philippines reported 9,164 phishing attacks.
Adrian Hia, managing director of Kaspersky Lab Asia-Pacific, says criminals are using sophisticated methods to lure unsuspecting victims into phishing attacks. Attackers send links in emails or via messengers. By clicking on the links, users are redirected to a fake website and devices are infected with malware. As a result, scammers steal personal and asset information from victims.
Roman Dedenok, a spam analysis specialist at Kaspersky Lab, said: fraudsters often lure users with BTC, ETH, TRX and XRP cryptocurrency giveaways, providing “simple instructions” and links to the right site.
“Malware is spreading even through legitimate channels. For example, a fake website may advertise on official commercial sites or popular apps. Fraudsters will stop at nothing when it comes to stealing cryptocurrencies as they become increasingly popular in Southeast Asia. This region accounts for about 14% of global cryptocurrency transactions,” says Adrian Hia.
Local youth are well-versed in digital assets and optimistic about the latest technology. Therefore, to keep their crypto assets safe, users should be aware of the tricks used by phishers, Kaspersky representatives state. Aside from the Philippines, phishing attacks to steal digital assets are a concern for law enforcers in neighboring countries. Indonesia recorded 24 642 phishing incidents in 2022, while police in Malaysia received 16,767 complaints.
Earlier this year, the Securities and Exchange Commission of the Philippines (SEC) began working on creating rules to regulate cryptoassets. In June, the regulator said it would delay the rules until the end of 2023 to work out investor protections in more detail.