Cryptocurrency Hackers Use Target Identity to Promote Bitcoin Scam

Cryptocurrency Hackers Use Target Identity to Promote Bitcoin Scam

November 13, 2018 Off By Maheen Hernandez

There is a data breach with Target, the retail customer giant.  Hackers have used Target to promote their Bitcoin Scam.

There was a ridiculous cryptocurrency give away scam on Twitter.  The tweet was made in the name of Target.

The tweet read as follows: “We are giving 5000 Bitcoin to all Community! We present your cryptocurrency payments for your purchases in our store, and want to celebrate this event with all users.”  Stated, “We organize the biggest cryptocurrency give away in the world.”

No official statements are out so far about this scam.  Whether the scam was successful is something that is still unclear.   To add to the credibility hackers make smaller transactions in the giveaway campaigns.

The tweet is now deleted. However, when it was published the text encouraged users to send a small amount of cryptocurrency to enter into a $30 million Bitcoin give away. Just like any other scam, the hackers rather than giving away the crypto, empty the pockets of scammers.

Well, this is not just one impersonation attempt by the scammers.  They have used account replicas of US and Israeli politicians.  They have as well duped the Indian Consulate in Frankfurt. These accounts are used to hack naïve enthusiasts.

Way back in 2014, hackers got the names, home and e-mail addresses of Target customers.  They also gained access to credit and debit card information. And, consequently, the company experienced a reduced holiday sale.  This hack mainly affected the customers who shopped at the US Target stores between November 27 and December 15.

Target began to investigate into the incident, and they used a leading third-party forensics firm to help them in the matter.  They also sent notifications to banks and law enforcement.

Way back then it was stated that hackers just spend a few cents in credit cards to ensure that the card is active.  Target asked their customers to check their online statement to identify any unauthorized purchases.

Customers called their credit card company and required replacements. However, customers cannot be held liable for these hacks.  And several major credit card companies, they were monitoring customer accounts.  JP Morgan limited the ATM withdrawals of their clients to $100 a day.  And for those customers whose account were at risk, it was limited to $300.

While several questions are unanswered, security experts then said that hackers could not have done it without having access to the “point-of-sale data.”  They doubted that hackers accessed the terminals where customers swiped their credit cards or they felt they collected the data as it moved to the respective credit card processors.

 

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