- KuCoin Group is warning the users of their exchange about the domain behind recently reported phishing attempts
- They are the operator of one of the largest exchanges in the world
- During the pandemic, phishing attempts are on the rise
KuCoin group has just published a public notice advising its users about the reported fishing website’s identity. Users are warned that https://kucoin-exchange.net is a fraudulent domain and not associated with the KuCoin Group.
The warning stipulates that the group has no relationship with the individual or group behind this domain and never had any connection. It also defines behavior that users should adopt to avoid these types of frauds.
Users are warned about the possibility of links from domains sounding similar to the official ones being in circulation on various social networks and messaging platforms. A cautious approach to opening these links is highly recommended.
Advice from the exchange is to bookmark the official web addresses in a browser to avoid the chance of stumbling on fraudulent domains. In case that you have already visited one of such, they are urging users to reset their passwords at KuCoin.
What is phishing?
Phishing is a form of cybercrime in which a malicious party falsely represents themself as some online service provider to obtain their victim’s credentials. An unsuspected victim will most often receive an unsolicited email or message on a social network or messaging app urging them to log in to the alleged providers’ system for some urgent reason.
Such attackers almost always disguise themself as companies that provide financial services to either obtain or exploit their victims’ personal financial information. With the cryptocurrency industry’s growth, phishing attacks are designed for acquiring access to victims’ cryptos and their theft.
In recent months number of these types of attacks is rising, as cybercriminals are looking to exploit both the economic uncertainties and reliance on the internet technologies by their potential victims during the ongoing Covid-19 pandemic.
What is KuCoin?
KuCoin is a global cryptocurrency exchange that was launched three years ago. It is among the world’s largest ones, with a user base of more than five million users from almost all the countries in the world.
Per some sources, 25 percent of owners of various cryptocurrencies have purchased them on KuCoin. The exchange offers their users spot and futures trading, besides the purchase of cryptocurrencies for fiat or other cryptos.
KuChain is also developing its blockchain, KuChain, with the intention of creating a DeFi ecosystem.