Crypto Accounts Compromised via Hacked E-Mails

The Singapore police have issued an advisory warning individuals who trade in cryptocurrency of a rise in compromised e-mail accounts being used to breach their crypto accounts.

According to the authorities, several cryptocurrency accounts were hacked since mid-August after unauthorized access to victims' linked email accounts was gained.

Investigations revealed that some of the affected email accounts had previously appeared in data breaches on other platforms, exposing victims' credentials.

The police suspect scammers may have exploited these exposed credentials to access cryptocurrency accounts, often by reusing passwords across multiple online services or using compromised email credentials to initiate password reset requests and intercept verification emails or one-time passwords (OTPs).