Experts Warn of $15m Global BEC Campaign
A new widespread Business Email Compromise (BEC) campaign has already stolen over $15 million from roughly 150 organizations, according to cybersecurity professionals. The campaign was first discovered when Mitiga, an Israeli incident response specialist, was called in to investigate suspicious activity related to a multi-million dollar transaction. Mitiga then found that cybercriminals were monitoring the deal through reading email communications between the corporate buyer and the seller. At the last minute, the malicious actor stepped in to impersonate the seller and steal millions.
Mitiga stated that it was able to identify rogue domains that the cybercriminal used to impersonate the seller. These domains were just a letter or number off of the legitimate seller and buyers’ domains, allowing the malicious actor to step in and complete the transaction undetected. All of the malicious domains used in this specific BEC attack were registered through Wild West Domains. Mitiga also found that the cybercriminals gained an initial foothold into the organization through conducting a phishing campaign targeting the company’s senior executives.
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