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  • Writer's pictureKen Yormark

Bank Failures Seed Crypto Criminals



Cybercriminals are capitalizing on the failures of Silicon Valley Bank and Signature Bank. They are leveraging individuals’ emotional stress and creating fake bank websites and phishing campaigns, creating plausible stories to exploit the urgency of frantic customers and businesses. A depositor receives an email from what appears to be the FDIC or their bank stating they have time-sensitive information to assist in recovering their account. You click on the attached link compromising your systems and are now held hostage.


Domain registrations containing "SVB" are up significantly. Over 70 new domain registrations matching that description were created this past weekend. These newly registered domains included login-svb.com, svbbailout.com, and svbcollapse.com.


Not all newly created websites are outright scams, but for those that aren't, there is likely another scam site impersonating Silicon Valley, Signature Bank, or another entity that has been in the headlines this week so be extremely cautious. Call your bank and speak to your contact before accessing any links.


For more information email me at

Ken@yormarkconsulting.com

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