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Peter Davis

An writer at FOMOdrive

  • Nov 17, 2023
  • 2 min read

Thousands of phishing sites attack traders of St. Petersburg Exchange

A surge of phishing has been caused by the sanctions imposed on the St. Petersburg Exchange.

Every day, over 1,000 new phishing sites emerge.

Scammers have already begun to take advantage of the issues with the trading platform, and this is only the start.

On November 2, the United States imposed blocking sanctions on the St. Petersburg Exchange. As a result of being added to the SDN list, trading in over 2 thousand shares and receipts of foreign companies on the stock exchange was halted.

Kommersant reports that following the introduction of sanctions against brokers and NSD, the amount of phishing sites pretending to be the St. Petersburg Exchange skyrocketed to thousands. This surge of such sites occurred last year.

Cybercriminals are drawn to phishing attacks because they are relatively easy to carry out and offer lucrative monetization opportunities. Nowadays, there are a variety of tools available for creating a phishing site. You can rent a phishing panel for €150 per week, or buy one for €350.

Informzashita notes that the St. Petersburg Exchange was previously of little interest to scammers, but now more than 1,000 new sites are appearing daily.

Scammers may employ various tactics to create phishing sites, such as replicating official websites and offering enticing rewards or investment opportunities.

Exchange websites never ask for personal information, despite criminals posing as security services or demanding information under the guise of account verification. In reality, these websites exist solely for brokers and to publish press releases.

It is essential to verify the correctness of the spelling of the website URL; even a single character discrepancy can indicate that you are dealing with a fraudulent site. Additionally, it is critical not to divulge transaction verification codes to any external entities.

Experts warn that the current rise in phishing scams could be just the start of criminals taking advantage of the issues with the St. Petersburg Exchange. It is possible that fake advisors may emerge, offering to "unlock" investors' funds for a fee. Such a situation could lead to significant financial losses.

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