A New Wave of PayPal Invoice Scams Targeting Blockchain/Cryptocurrency Businesses Discovered
A recent report from Japanese cybersecurity firm Trend Micro has uncovered a surge in PayPal invoice scams that are specifically targeting blockchain and cryptocurrency-related businesses. These scams involve fraudsters impersonating PayPal sellers and sending out fake invoices to unsuspecting recipients, tricking them into clicking on malicious links.
What makes these scams particularly concerning is that the scammers are using the names of well-known companies and tokens within the blockchain and cryptocurrency space to add a layer of legitimacy to their fraudulent activities. Some of the names mentioned in the report include Stellar XLM, Bitcoin Exchange, Terra Luna Classic, Oasis Network, and TrueUSD.
Tips to Protect Yourself Against PayPal Invoice Scams
To safeguard yourself against these scams, Trend Micro recommends taking the following precautions:
- Double-Check Contact Details and URLs: Always verify the contact details and URLs in any communication you receive regarding PayPal invoices. Be cautious of unexpected charges and do not click on any suspicious links.
- Reach Out to Official Channels: If you are unsure about the legitimacy of an invoice or email, contact the official website or support page directly for assistance. You can also forward any suspected scam emails to spoof@paypal.com for further investigation.
- Avoid Clicking on Links or Calling Numbers: To minimize the risk of falling victim to phishing scams, refrain from clicking on links or calling any phone numbers provided in suspicious emails.
By staying vigilant and following these security measures, individuals and businesses in the blockchain and cryptocurrency space can protect themselves from falling prey to PayPal invoice scams. It is essential to remain cautious and verify the authenticity of any communication related to financial transactions to prevent potential fraud and security breaches.