Once again, cybercriminals have attacked another virtual exchange platform. Sandbox, one of the leading crypto exchange platforms in the world, is yet another victim to cyber-attack. Additionally, platform users have recently reported falling victim to phishing emails.
The platform reported in its blog posts that the break-in occurred because of a breach by an unauthorized third-party operator that managed to gain entry into one of the devices of Sandbox’s employees.
The leading crypto exchange platform in the world, the Sandbox, has warned platform users against falling victim to malicious emails containing malware that enable hackers to breach user accounts. Sandbox has placed a statement reporting that the hackers used information obtained from their employee’s computers to send falsified emails claiming to be Sandbox.
After getting knowledge that the company was facing a threat from cyber criminals, the company decided to block the employee’s account immediately, reset all account passwords, cancel all their access to the sandbox accounts, and completely reformatted the employee’s work laptop.
The company stated that they had not identified any other impacts of the threat apart from the threat identified. This action is because the third-party malware only attacked one computer. Executives say they are relieved that the third party could not access other accounts and services of the Sandbox.
More on the Sandbox Breach
On the 26th of February, 2023, The Sandbox executives reported that they learned about the malware attack on the Sandbox accounts through one of their employee’s emails. The unauthorized breach enables the third party to access the email addresses of Sandbox users.
After obtaining the email addresses, the attackers sent emails to users claiming to be Sandbox, intending to siphon user accounts and steal without being detected. The malware sent allowed the attacker to install the malware remotely on the employee’s computer, thereby getting access to the computer and Sandbox’s accounts.
As a result, the company executives have advised platform users to strengthen and update their account passwords and use the two-step verification that the company promises to update. The company also advises users to download and install a trustworthy antivirus program that can be used to detect and eliminate malware.
It also advised that if platform users became apprehensive about any distrustful goings in their computers, they should seek the help of an Information Technology expert to aid them in formatting their computer and ensuring that any suspicious computer viruses are taken care of to prevent unauthorized breaching.
The Sandbox recently reported that all the users that received the malware disguised as official emails from Sandbox were notified and warned of the ham their accounts could suffer from the beach, and informed the users that the computer that was breached was cleared of computer viruses and reset.
In addition, Sandbox has promised that the company’s computer experts are closely monitoring the attack to ensure that the security of their user’s accounts is maintained.
An Upsurge of Cyber Attacks on Crypto Platforms
The cyber-attack on Sandbox accounts comes after a recent upsurge of cyber-attacks on crypto platforms to access user accounts. Officials have explained that attackers send malware to user emails to access user accounts and con them into initiating a wallet recovery prompt on a fake Sandbox website designed to appear as the main one. Users then unexpectedly lose access to all the funds stored in their Sandbox accounts.
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