If you think OTP (One Time Password) is always safe then you are wrong. Just pay attention to what I am going to tell you now.
Bots acquired on Telegram are being used by cybercriminals to deceive victims into giving them access to their cryptocurrency accounts. One Time Password (OTP) bots, according to a report from cybersecurity firm Intel471, are “remarkably easy to use” and “quite inexpensive to operate” in comparison to the amount of money that can be made from a successful assault.
Hackers can gain access to a Telegram bot called ‘BloodOTPbot’ for a monthly cost of $300. Fraudsters can also spend an extra $20 to $100 on more phishing tools that target individual Instagram, Facebook, and Twitter accounts, banking services like PayPal and Venmo, and cryptocurrency platforms like Coinbase.
OTP bots are particularly nasty since they are usually the last stage in the hacking process, after all vital personal information about the target has been acquired, often known as “the fullz” in hacker jargon. Hackers utilise the OTP bot to imitate an official phone call, while also prompting the user’s crypto platform for the 2FA code. Hackers obtain fast and complete access to the victim’s account once the often agitated user divulges the code.
OTP bot assaults are becoming more common, and they are generating significant losses to both institutions and regular retail investors. The bots have a very high success rate when it comes to extracting revenue.
Coinbase’s customer service has been criticised in the past when irate consumers complained about the platform’s lack of reactivity in dealing with hackers. Coinbase purchased an Indian AI startup and established a phone line dedicated to dealing with account takeovers and associated threats in an effort to enhance reaction times and client interactions.
Please stay Aware and Alert.
