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PayPal Users Targeted in New SMS Phishing Campaign

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Written by Amer Owaida, the security writer at ESET

A new SMS-based phishing campaign is doing the rounds that attempts to part PayPal users from their account credentials and sensitive information, BleepingComputer reports. The ploy consists of SMS text messages that impersonate the popular payment processor and inform potential victims that their accounts have been “permanently limited” and that they need to click on the link to verify their identity.

Now, at first glance the message may not seem all that suspicious since PayPal may, in fact, impose limits on sending and withdrawing money. The payment provider usually does so when it suspects that an account has been accessed by a third party without authorization, when it has detected high-risk activities on an account, or when a user has violated its Acceptable Use Policy.

However, in this case it really is a case of SMS-borne phishing, also known as smishing. If you click on the link, you will be redirected to a login phishing page that will request your access credentials. Should you proceed to “log in”, your credentials will be sent to the scammers behind the ruse and the fraudulent webpage will attempt to gather further information, including the full name, date of birth address, and bank details.

Impersonating the popular payment processor isn’t a novel tactic; after all, PayPal is one of the most-spoofed brands in phishing scams, and attempts at prying sensitive data out of its users have been around for years. We have previously looked under the hood of one such scheme.

Make no mistake, however; threat actors like to switch it up and use multiple flavors of PayPal fraud. While they often tend to use scamming evergreens such as lottery or prize-winning scams that require the user to pay a “transfer fee”, cybercriminals have also been observed sending out fake invoices masquerading as various charities or relief efforts. We discussed common strategies employed by scheming crooks targeting PayPal users in one of our recent articles.

Needless to say, if a target falls for any of these ruses, the combination of information could be used for identity theft, bank fraud or fraudulent purchases. The data could just as well be compiled into lists that are then sold to other scammers on dark web marketplaces. If the victim also recycles their login credentials across multiple accounts, black hats could infiltrate other accounts, including banking, social media and email accounts.

Protect yourself
To avoid falling victim to any of these attacks, you should always scrutinize any text message or email containing a link. So, if you ever receive anything suspicious purportedly coming from a service you use, contact the service provider directly and verify whether it was sent by them.

You can also never go wrong with using some form of two-factor authentication to secure your accounts. To bolster your password security, consider using a password manager.

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Positive Technologies Study Reveals Successful Cyberattacks Nett 5X Profits

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Positive Technologies has released a study on the dark web market, analysing prices for illegal cybersecurity services and products, as well as the costs incurred by cybercriminals to carry out attacks. The most expensive type of malware is ransomware, with a median cost of $7,500. Zero-day exploits are particularly valuable, often being sold for millions of dollars. However, the net profit from a successful cyberattack can be five times the cost of organizing it.

Experts estimate that performing a popular phishing attack involving ransomware costs novice cybercriminals at least $20,000. First, hackers rent dedicated servers, subscribe to VPN services, and acquire other tools to build a secure and anonymous IT infrastructure to manage the attack. Attackers also need to acquire the source code of malicious software or subscribe to ready-to-use malware, as well as tools for infiltrating the victim’s system and evading detection by security measures. Moreover, cybercriminals can consult with seasoned experts, purchase access to targeted infrastructures and company data, and escalate privileges within a compromised system. Products and tools are readily available for purchase on the dark web, catering to beginners. The darknet also offers leaked malware along with detailed instructions, making it easier for novice cybercriminals to carry out attacks.

Malware is one of the primary tools in a hacker’s arsenal, with 53% of malware-related ads focused on sales. In 19% of all posts, infostealers designed to steal data are offered. Crypters and code obfuscation tools, used to help attackers hide malware from security tools, are featured in 17% of cases. Additionally, loaders are mentioned in 16% of ads. The median cost of these types of malware stands at $400, $70, and $500, respectively. The most expensive malware is ransomware: its median cost is $7,500, with some offers reaching up to $320,000. Ransomware is primarily distributed through affiliate programs, known as Ransomware-as-a-Service (RaaS), where participants in an attack typically receive 70–90% of the ransom. To become a partner, a criminal must make a contribution of 0.05 Bitcoin (approximately $5,000) and have a solid reputation on the dark web.

Another popular attack tool is exploits: 69% of exploit-related ads focus on sales, with zero-day vulnerability posts accounting for 32% of them. In 31% of cases, the cost of exploits exceeds $20,000 and can reach several million dollars. Access to corporate networks is relatively inexpensive, with 72% of such ads focused on sales, and 62% of them priced at under a thousand dollars. Among cybercriminal services, hacks are the most popular option, accounting for 49% of reports. For example, the price for compromising a personal email account starts at $100, while the cost for a corporate account begins at $200.

Dmitry Streltsov, Threat Analyst at Positive Technologies, says, “On dark web marketplaces, prices are typically determined in one of two ways: either sellers set a fixed price, or auctions are held. Auctions are often used for exclusive items, such as zero-day exploits. The platforms facilitating these deals also generate revenue, often through their own escrow services, which hold the buyer’s funds temporarily until the product or service is confirmed as delivered. On many platforms, these escrow services are managed by either administrators or trusted users with strong reputations. In return, they earn at least 4% of the transaction amount, with the forums setting the rates.”

Considering the cost of tools and services on the dark web, along with the median ransom amount, cybercriminals can achieve a net profit of $100,000–$130,000 from a successful attack—five times the cost of their preparation. For a company, such an incident can result not only in ransom costs but also in massive financial losses due to disrupted business processes. For example, in 2024, due to a ransomware attack, servers of CDK Global were down for two weeks. The company paid cybercriminals $25 million, while the financial losses of dealers due to system downtime exceeded $600 million.

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