Compromised email accounts used to illegally access cryptocurrency accounts: Police
Members of the public who have cryptocurrency accounts should take the necessary steps to safeguard their linked email accounts.Police said in a crime advisory on Saturday (Sept 12) that they have noticed an increase in cases involving unauthorised access to cryptocurrency accounts — through compromised linked email accounts — since mid-August. Investigations found that several of the affected email accounts had previously appeared in data breaches on other platforms. This suggests that the victims' credentials may have already been exposed.The perpetrators may have then exploited this and used the compromised credentials to access victims' cryptocurrency accounts, taking advantage of those who reused the same passwords across multiple online services.But how?While it may appear that there are several "layers" for perpetrators to cross, it is not impossible.This can be achieved by searching a victim's compromised email account to identify cryptocurrency platforms or exchanges used by the victim.