Scammers love phishing emails for a reason: They work. This type of social engineering attack uses phony emails and texts (called smishing) to gather information from unsuspecting victims. Often these messages link to malicious websites or apps, which install viruses, give hackers access to a device and steal personal information.
How it works: Scammers can mimic applications and sites that crypto traders usually use. The trick is getting people to click on them. They do this by sending an email or text, pretending to be a familiar cryptocurrency company. The message will include a link to what looks like a typical app or site—but it’s a fake. By clicking the link, you give scammers access to your digital wallet and the opportunity to drain your crypto accounts.
How crypto is involved: Unlike similar schemes (you’ll often come across Apple phishing emails, for instance), this type of phishing scam is all about the blockchain, which means it’ll come from a company associated with cryptocurrency.
