What is typosquatting in crypto?
Typosquatting in crypto involves registering domain names that mimic popular platforms with slight misspellings to deceive users into revealing sensitive information.
In the rapidly evolving digital landscape, cryptocurrencies have become a significant form of currency, enabling decentralized and borderless financial transactions.
Along with its growing popularity, however, new cyber threats have emerged. One such threat is typosquatting, a deceptive practice where cybercriminals register domain names that closely resemble those of legitimate cryptocurrency platforms. By exploiting common typing errors, attackers aim to mislead users into visiting fraudulent sites, leading to potential financial losses and security breaches.
For instance, a user intending to visit “coinbase.com” might accidentally type “coinbsae.com,” landing on a malicious site designed to mimic the original.
These counterfeit platforms often prompt users to input sensitive information, such as private keys or recovery phrases, or to download malware disguised as legitimate