Reports have confirmed that Japan has been targeted by cybercriminals using phishing, or illegal acquisition of personal information, to steal cryptocurrencies by sending fake emails to crypto exchange users. Fake emails sent in Japanese language reportedly rose to at least 1,500 by last autumn.
Also Read: How Michael Richo Stole Bitcoins via Imposter Exchange Sites and Dark Web Phishing Schemes
Six FSA Approved Exchanges Taking Inadequate Countermeasures Against Phishing
Back in May, Bitflyer was warning its customers that fake emails used by cybercriminals were redirecting their victims to phishing websites that looked like authentic Bitflyer pages, which requested customers to enter their IDs and passwords. These were then collected by the criminals. Bitflyer received a serious business improvement order by the FSA on June 22.
Fake emails in Japanese language sent to steal private information were confirmed last November
A report published by the University of Tsukuba and Nomura Asset Management, an investment management company, criticized six government approved crypto exchanges saying they were operating without any solid countermeasures against online fraud and phishing schemes.
The Japanese Anti-phishing Council and the information security company Trend Micro reported that it was in November of last year that fake emails sent in the Japanese language targeting cryptocurrencies were confirmed for the first time. The two entities confirmed more than 1,500 fake emails sent in Japanese, targeting cryptocurrency exchanges. “And this is just the tip of the iceberg,” they said.
Government Collaboration is Planned
Japan Credit Information Service’s (JCIS) spokeswoman Teruko Suzuki told news.Bitcoin.com that JCIS has collaborated several times with the Japanese government regarding investigations on cryptocurrency related matters, but JCIS hasn’t got any official contract with government entities yet. “We are hoping to collaborate with the Japanese government
