Here is a clip from CYBERSECURITY • this week:
…Chainalysis reports that 65% of crypto thefts now rely on social engineering rather than code exploits, with $17 billion stolen across the sector in the past 12 months. The largest single attack: $282 million in Bitcoin and Litecoin taken in January after an attacker impersonated Trezor hardware wallet support and tricked the victim into revealing their seed phrase.
The attacker immediately converted the stolen assets into Monero through instant exchange services, triggering a price spike that briefly disrupted XMR markets. ZachXBT confirmed North Korean state hackers were not involved. It was a solo social engineer with a phone and a script. No zero-day required. The most expensive hack of 2026 didn’t exploit software — it exploited trust.
Source: Cointelegraph / Chainalysis
The days of trusting the person at the other end of the phone line are essentially gone. When it comes to your computer, beside the cute family pictures fraudsters have little interest in, you typically do online banking, store financial records, and if reveal everything about your estate. A person who is given access to your computer in broad daylight, sits in the darkness of the Internet secretly doing a magic show to your face. On the screen you see, they are “fixing” your computer. On the secondary screen they see, you are being robbed blind.
Some concepts you should become more aware are listed below:
Individual Identity Theft — A person gains enough information about you to represent to an online banking site, a cell phone application, or even an automated telephone banking system that they are indeed you personally. They enter your name, your social security number, your date of birth, and your mother’s maiden name and initiate transfers out of your account to whomever they please.
Corporate Identity Theft — An individual or group of individuals pretend to be from a well-known firm, such as Microsoft, McAfee, Norton, or a government agency like the IRS, NSA, or other entity. They have invented employee ID numbers, invented telephone extension numbers, invented names. One company, had taken on the names of all the officers of a major financial firm and posed as a company in need of employees. The effect was if you asked who the CEO was, they would tell you ACCURATELY. When you ask to speak to the Human Resource director, they would transfer you to that “department” and you would speak with the alias HR director who would say their name was that of the real HR department director, which would exactly match the information on the real company website.
Tech Support Scams — Someone calls claiming to be “Microsoft,” “Amazon,” “your bank,” or “your Internet provider,” says your computer has a virus or your account is compromised, and pressures you to let them in remotely. This is the #1 way seniors get robbed.
Remote Access Fraud — A scammer convinces you to install a remote‑control program so they can “fix” your computer. Common tools they tell victims to install include Microsoft Quick Assist, AnyDesk, TeamViewer, UltraViewer, Zoho Assist, LogMeIn/GoTo Resolve, Chrome Remote Desktop, and Splashtop. Once connected, they can see your screen, move your mouse, open your bank, and steal money while pretending to help.
Refund Scams — They pretend to issue a refund, “accidentally” send too much, and beg you to return the difference. They guide you into sending thousands via Zelle, gift cards, or wire transfers.
Bank Impersonation Calls — Someone calls saying they’re from your bank’s fraud department. They sound official, know your name, and tell you to “move your money to a safe account.” This is a huge and growing scam.
Package / Amazon Scams — Fake texts or calls saying “Your Amazon account is locked” or “Your package couldn’t be delivered.” They use this to get you on the phone and into a scam.
Government Impersonation Scams — Fake IRS, Social Security, Medicare, or sheriff’s office calls. They threaten arrest, loss of benefits, or fines unless you act immediately.
Grandparent / Family Emergency Scams — “Grandma, it’s me… I’m in trouble… don’t tell Mom.” They use fear and urgency to get money fast.
Romance Scams — Someone online pretends to fall in love, then slowly extracts money. This is one of the most financially devastating scams for seniors.
Phishing Texts and Emails — Fake messages pretending to be your bank, UPS, Medicare, or a store you use. They try to get you to click a link and enter your password.
Gift Card Payment Scams — Anytime someone tells you to pay with gift cards, it’s a scam. No legitimate business or government agency uses gift cards for payment for a service. Walmart cards work at Walmart, Amazon cards work at Amazon, and so on, but nowhere else. Simply avoid payment to anyone for whom you cannot fully trace their physical address. Trace means extensively investigate independently. Anyone can give out the headquarters address of Microsoft, or your bank, or wherever.
FINALLY, pardon the rudeness: SHUT UP and HANG UP. The success of fraudsters use of social engineering is your mouth. If you are hungry for a conversation, go to your local senior citizen center and talk up a storm. Over the phone to a stranger is the worst possible place to reveal your family secrets. And incidentally, phone numbers that look local are no longer local callers. The person on the other end may be in Australia for all you know, piped into your local town’s phone exchange.