Cisco: for three years the crooks have stolen through phishing $50 million in bitcoin

Researchers at it company Cisco in the field of computer security uncovered new information about the fraud using bitcoin, in which phishing sites disguised as popular online wallet

In a new blog post, Dave Maynor (Maynor Dave) and Jeremy O’connor (Jeremiah O’connor) spoke in detail about a phishing scheme Coinhoarder, which last six months, Cisco has investigated in partnership with the Ukrainian division of police. The record States that in three years the crooks stole about $ 50 million in bitcoin.

«The campaign was very simple, and after the initial setup of the schema, attackers need only to continue to purchase ads with Google AdWords to provide a steady stream of victims,» they write. «This campaign is targeting specific geographic regions and allowed the attackers to obtain millions of dollars due to the theft of cryptocurrency. This fraudulent scheme demonstrates how profitable can be such attacks for cybercriminals».

How to tell the Cisco experts, scammers have created websites that look like but were in other locations, for example, «» or «» etc. they Then «used the Google Adwords to be implemented in the search results and subsequently steal funds».

Cisco experts tracked the activities of the group up to 2015 and estimate that in three years was stolen «tens of millions of dollars» in bitcoin. They noted that it was stolen up to $ 50 million in the cryptocurrency, including $2 million in just one month last year.

«The scheme Coinhoarder demonstrates that the cryptocurrency phishing via Google Adwords is a profitable attack on users worldwide,» — concluded the experts of the company.

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