Cryptocurrency Fraud Solutions

Cryptocurrency Exchanges Can Combat Online Fraud and Account Takeover with SpyCloud

10% of ATO Attacks Account for 80% of Losses

Most account takeover attempts are high-volume credential stuffing attacks, using account checking software to rapidly test stolen credential pairs against different online logins. While these attacks can be successful, they represent a sliver of the total danger that account takeover attacks pose for cryptocurrency exchanges.

Instead, the ten percent of ATO attempts that are targeted, sophisticated, and difficult to detect account for 80 percent of losses, according to SpyCloud customers. A single successful cryptocurrency account takeover can represent a substantial profit for cybercriminals, motivating them to engage in manual, difficult-to-detect tactics such as SIM swapping, phone porting, and even searching through account backups for TOTP seed backups or photos to bypass security measures. These attacks often occur soon after a breach occurs when few people have access to the stolen data, making it challenging for security teams to prepare for them.

SpyCloud helps cryptocurrency exchange security teams stay ahead of targeted account takeover attacks by checking customers’ logins against the largest database of recovered breach assets in the industry. SpyCloud researchers use human intelligence to infiltrate criminal communities and recover breach data early in the breach lifecycle, before most account takeover accounts begin, enabling crypto exchanges can lock out potential attackers before they have a chance to defraud customers.

Learn More about Consumer ATO Prevention

Laptop with a browser showing a user login, overlaid with a shield

Add an Extra Layer of Security for Infected Users

Recovered Botnet Data Reveals At-Risk Cryptocurrency Accounts
Laptop with a user logging in, combined with magnifying glass implying the device is infected with malware

A common way that cybercriminals collect login information from users is by convincing them to download malware with keylogging capabilities, collecting logs that contain users’ complete login history, cookies, and crypto wallet information.

Attackers often attempt to drain funds from cryptocurrency wallets immediately, before distributing an infected user’s remaining data to other cybercriminals.

SpyCloud helps cryptocurrency exchanges identify infected customers who are at high risk of account takeover and fraud attempts. SpyCloud recovers fresh botnet logs, making it possible for crypto exchanges to identify and investigate at-risk accounts – users whose web session cookies or credentials have been siphoned by malware.

Learn More About SpyCloud’s Malware Intelligence


How a Global Fintech Platform Uses SpyCloud to Protects Users Infected with Credential-Stealing Botnets

Investigate Cryptocurrency Fraud

Unmask Criminals Attempting to Defraud Your Customers

Given the high potential value cryptocurrency accounts, fraud attempts are inevitable. Often, very little information is available to help cryptocurrency exchange security and fraud teams identify the criminals responsible for cryptocurrency fraud and other malicious activity. Teams may begin an investigation with only one piece of data, such as an IP address, a phone number, or an email address.

SpyCloud arms crypto exchanges with the investigative power of over 300 billion Recaptured Data assets, enabling cryptocurrency security and fraud teams to tie disparate data sources together to de-anonymize cybercriminal personas, campaigns, and infrastructure.

Learn More About SpyCloud Investigations

Laptop with magnifying glass showing data connections

Featured Products

Our award-winning products enable you to proactively secure cryptocurrency accounts and combat online fraud.

Consumer ATO Prevention

Protect cryptocurrency customers from account takeover and cryptocurrency fraud by identifying and resetting exposed passwords early, before criminals have a chance to use them.

Employee ATO Prevention

Monitor your cryptocurrency exchange’s human attack surface and reset exposed employee passwords to safeguard your customers’ crypto wallets, and your corporate data.

Fraud Investigations
Fraud Investigations

Draw on the largest repository of Recaptured Data in the world to investigate cryptocurrency fraud and identify criminals targeting your cryptocurrency customers.

Featured Resources

Fintech Account Takeover Prevention Case Study - SpyCloud
Case Study

Global Fintech Company

With SpyCloud, this global fintech platform has been able to automate consumer account takeover prevention at scale, protect thousands of users infected with credential-stealing botnets, and enrich their predictive models and investigations.

Read More

Protect high-value customer accounts with SpyCloud.