Crypto Scammers Are Getting More Creative, Microsoft Warns of New Threats

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Crypto Scammers Are Getting More Creative, Microsoft Warns of New Threats
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The threat actor appears to be well-versed in the inner workings of the crypto industry.

Microsoft revealed that malicious entities are getting more sophisticated by the day. According to a new report, Telegram chat groups are being used to target cryptocurrency investment companies.

The tech giant identified a threat actor – DEV-0139 – who infiltrated Telegram groups posing as a representative of a crypto platform.published by Microsoft’s Security Threat Intelligence team stated the threat actors had significant knowledge of the crypto investment industry and invited at least one target to another Telegram group. The main goal is to engage and discuss a relevant topic to gain the target’s trust.

The attackers sent them malware-laced Excel spreadsheets that contain well-crafted information to appear legitimate. Once opened, the weaponized Excel file enables macros, and a second worksheet embedded in the file will download and parse a PNG file to extract a malicious DLL, an XOR-encoded backdoor, and a legitimate Windows executable later used to sideload the DLL, which will decrypt and load the backdoor.

Microsoft could not retrieve the final payload but detected another variant of this attack and retrieved the payload. The company’s findings highlighted the existence of other campaigns that leverage the same techniques to target crypto companies.“The cryptocurrency market remains a field of interest for threat actors. Targeted users are identified through trusted channels to increase the chance of success.

Rug pulls took a big share as more than 188,000 of them were recorded on various blockchains, including BNB and Ethereum.

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