Phishing is a scam in which a scammer impersonates a respected organization or individual in order to get access to confidential material, such as banking credentials and passwords, in order to steal digital assets. Phishers frequently target individuals by sending emails or text messages that appear to be real. Because fraudsters utilize human psychology rather than technology, phishing is better defined as a social engineering attack rather than a cyberattack. In the cryptocurrency world, phishers attempt to steal bitcoin from individuals by impersonating legitimate crypto exchanges or wallets. One example is the trading of lookalikes. A phisher delivers a bogus link to a website that looks very similar to a valid exchange web address. The receiver is then asked to provide their private key or exchange log-in information, which the fraudster subsequently uses to take their money, Individuals should read emails and messages with caution and set two-factor authentication on their accounts to avoid phishing.
