WATCH: How an email scam brandjacking LocalBitcoins scams recipients

Posted by Akankasha Dewan on 15 February 2019 12:29:37 AEDT

Earlier this week, MailGuard detected a phishing email scam mimicking popular bitcoin exchange company LocalBitcoins

This scam follows a series of bitcoin-related extortion phishing scams that we intercepted in November and December last year.

Watch the below video to see the tactics and strategies employed in this scam to convince recipients of the legitimacy of this email, and learn how businesses can combat such cyberattacks to protect their customers, brands and revenues: 


Why phishing emails are bad for business  

Although this fake LocalBitcoins phishing email is primarily targeted towards consumers, cybercriminals also use phishing emails to manipulate employees into surrendering access to a range of sensitive and valuable business information.

This can include access to your corporate usernames and passwords used to access and steal confidential data.

The financial, reputational and litigation costs associated with phishing can therefore be huge, and it’s important that your business takes steps to protect itself.

We recommend that you educate staff on how to spot phishing emails in the event that they infiltrate your email inbox – you can access a range of hints and tips here.

For a few dollars per staff member per month, add MailGuard's cloud-based email and web filtering solution to your business security. You’ll significantly reduce the risk of new variants of malicious email from entering your network. Talk to an expert at MailGuard today about your company's cybersecurity needs:

Keep up to date on the latest email scams by subscribing to MailGuard’s weekly update, or follow us on Twitter @MailGuard.

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Topics: Phishing email scam Cybersecurity cybercrime

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