MENU
CLOSE
MEMBERSHIP PROGRAMS
MEDIA BRANDS
Close
Content Type
Limit Search to
SEARCH
MEMBERSHIP PROGRAMS
About Us | Contact Us | Site Map
Advertise | Customer Service | Terms of Service
FAQ | Privacy Policy
Copyright © 2021 ALM Global, LLC.
All Rights Reserved.
COMMENTARY
These types of socially engineered hacks are happening at an alarming rate, and the crypto brokers are well aware of the problem because they are on the front lines of the complaints generated by their customers.
June 23, 2022 at 09:03 AM
5 minute read
Cryptocurrency
You receive a text from your crypto wallet custodian, such as Coinbase or Gemini, claiming a fraudulent transaction has occurred on your account. Some detail related to the transaction is provided. You do not recognize the transaction and respond indicating fraud and that you would like to speak to a representative, who promptly calls you. The representative has your personal information, asks you to confirm certain details, then instructs you to report the code just sent to your phone to confirm your identity. You do it—and you’ve been hacked.
The code was generated by the scammer’s online attempt to reset the password for your account to gain access through the two-step authentication process. Once you provide the code, the fraudster can access the account and execute transactions. When you are finally able to sort out what happened, the account has been cleaned out and—because of the nature of the blockchain—there is no way to recover the stolen crypto or track down the fraudsters, many of whom operate outside of the United States in jurisdictions with no accountability. Even worse, your crypto wallet custodian or broker denies any responsibility because, under the user agreements, you are purportedly responsible for the security of your account.
Already have an account? Sign In Now
Click here to access the Public Notices and the Courts sections of the The Daily Business Review in PDF format.
By Leah Nylen
By Joanna Ossinger
By Melea VanOstrand
By Daily Business Review
As Kirkland & Ellis Drops 2nd Amendment Cases, Paul Clement Exits
The American Lawyer
Impeachment Lawyer Eric Herschmann Left $3.3M Kasowitz Benson Gig to Join Trump White House
National Law Journal
Cravath’s New Partner Pay Model Reflects Competitive Use of Bonus Pools
The American Lawyer
Prosecutors Say They’ll Drop Avenatti’s Remaining Charges—But Only if They Like Judge Selna’s Sentence
The Recorder
Pornhub and Visa Face Sex Trafficking, Child Pornography Claims from 34 Plaintiffs After NYT Report
The Recorder
License our industry-leading legal content to extend your thought leadership and build your brand.
Presented by BigVoodoo
Where the region’s top lawyers, law firms and in-house teams will gather to celebrate their most stellar achievements of the year.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law.
The National Law Journal Elite Trial Lawyers recognizes U.S.-based law firms performing exemplary work on behalf of plaintiffs.
We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat…
Duane Morris LLP has an opening in its Boston office for a Litigation associate. The ideal candidate will have at least 2-4 years of sophist…
We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should …
IN MEMORIUM: With a profound sense of sadness, McCormick & Priore announces that Harry A Short, Jr., a preeminent products liability defense lawyer in Philadelphia with a career that spanned over sixty-five (65) years, passed away on June 14, 2022.
Starr Gern Davison & Rubin, PC. Attorneys at Law are pleased to announce that SHELLEY L. STANGLER, ESQ. has joined the firm as of Counsel.
.
Don’t miss the crucial news and insights you need to make informed legal decisions. Join Daily Business Review now!
Already have an account? Sign In
The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success.
