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Hackers impersonating cryptocurrency leaders on Telegram to lure people into making crypto trades

Cryptocurrency executives, beware. Telegram and email accounts of cryptocurrency leaders have caught the attention of cybercriminals. Hackers gaining access to accounts of cryptocurrency leaders is part of an attack on Israel-based telecommunications provider Partner Communications Company (formerly Orange Israel).

Israel’s National Cyber Security Authority and national intelligence agency Mossad are probing into the incident.

According to Pandora Security, the devices of partner clients were compromised, courtesy of a Signaling System 7 (SS7) attack. In such attacks, hackers try to steal data, eavesdrop on their victims, intercept text messages, and track locations.

In this attack, in particular, hackers tried to intercept the 2FA codes sent to the devices of the cryptocurrency executives. SS7 protocol was developed in 1975.

Researchers are of the opinion that national governments must update their telecommunications infrastructure to protect against such modern security threats.

Pandora believes the hackers had impersonated their victims on Telegram to lure people into making crypto trades.

Via: Cointelegraph