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Brave Browser Adds Security Layer to Protect Crypto Users From Phishing Attacks

September 09, 2020

Crypto-rewarding web browser Brave is teaming up with cybersecurity firm PhishFort to protect crypto users and keep cybercriminals at bay.

In a Twitter update, the privacy-centric browser explains how integrating PhishFort’s technology could shield users from malicious attacks.

“Brave now uses PhishFort‘s open-source anti-phishing solutions for our in-browser crypto wallets to better protect our users. PhishFort’s spam list detects crypto scams and immediately warns our users of any suspicious domains.”

In a blog post, PhishFort notes that cyber thieves seek to exploit the emotions of their victims to launch successful attacks.

“They use a combination of urgency, fear of missing out, and fear of being negatively affected (by a hard fork, ICO, token migration, or other actionable items) with the hopes that the targeted person will act quickly and never notice they are interacting with a malicious application.”

Last month, the U.S. Department of Justice charged three people in relation to the largest and most audacious phishing scheme in Twitter history that saw the masterminds compromise VIP accounts of the microblogging platform and dupe hundreds of users into parting with their Bitcoin (BTC).

PhishFort also emphasizes that the scammers are evolving and are pursuing applications that get a lot of traction. In 2017 and 2018, the bad actors targeted news events related to initial coin offerings (ICOs) and hard forks. This year, they are focused on decentralized finance (DeFi) applications.

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