Imagine that your business's online identity has been hijacked by cyber threat actors. They now have control over your website, social media platforms, and other public communication channels. This is called brandjacking, and it is the act of assuming a brand's online identity with the intention of ruining the company's reputation.
Binance Brandjacking Attack
In February 2023, a group of cybercriminals hijacked the Twitter account of the popular cryptocurrency exchange Binance. The attackers used the account to send out a series of tweets that falsely claimed that Binance was giving away free Bitcoin. The tweets included a link that, when clicked, would take users to a fake Binance website that was designed to steal their cryptocurrency.
The brandjacking attack was successful in misleading several users, who clicked on the link and entered their cryptocurrency credentials. The attackers were able to steal a total of $2.4 million worth of cryptocurrency. This attack on Binance is a reminder of the growing threat of cybercrime in the cryptocurrency industry. As more and more people invest in cryptocurrency, criminals are becoming more interested in targeting these assets. Binance has since published steps on how to protect yourself from similar scam attacks.
Brand Hijacking poses a serious threat to businesses, with potentially devastating consequences.
When cyber criminals take control of your online presence or attempt to mimic your brand identity, customers may unknowingly interact with these malicious entities, leading to financial losses, reputational damage, and even legal repercussions. Protecting your brand from brandjacking is vital to maintain trust and credibility with your audience. Whilst in some cases there is nothing that can be done to stop malicious threat actors from impersonating your brand, there are many ways in which you can reduce risk;
Your website serves as the digital face of your business, making it a prime target for brandjacking. You should prioritise domain security to safeguard your website's credibility and protect your customers. Here are some tips that can help:
Social media is a powerful communication tool for brands, making it essential to maintain active accounts on major platforms. Social listening helps you stay vigilant against brandjacking threats and enhance your brand's reputation. Here's how:
Brand Highjacking is also extremely common in Phishing attacks. Have you ever received an email from “Amazon” saying that your “invoice is due”, “payment details are incorrect” or “Prime Subscription will be Cancelled unless you update your card details”. Unfortunately, these are all common methods by which malicious threat actors attempt to impersonate major brands to take advantage of people around the world. By using the logos, fonts & colour schemes of major brands they are prying on people and business users who do not know the common phishing signs to look out for or have adequate Email Threat Protection in place to safeguard their business from these cyber threats.
Other methods malicious threat actors use to attempt to trick people is by making the “Display Name” of an email address appear to look like it has come from the brand, using words such as “Amazing Support” or “Customer Service” with the email behind this for a completely different service, or with the domain name (the part of the email address after the @) designed to look like the brand by using similar words within a larger domain such as: amazn.custservice.xyz
Advanced Email Threat Protection is designed to protect businesses from threats such as these, it uses Artificial Intelligence and Machine Learning to check for common forms of Brand Highjacking phishing attacks such as;
And much more besides!
Invest in a comprehensive and strong Cyber Security solution to protect your business from potential attacks. Cyber Security is a crucial defence against brandjacking and other online threats in today's ever-evolving cyber threat landscape. At TwentyFour we offer tailored cyber security solutions to safeguard your business such as these, such as;
To find out more about our Email Security services, Click Here.
Defending your brand from brandjacking is not just an option; it's a necessity. Implement these proactive measures to safeguard your online identity and preserve your business's reputation. Reach out to TwentyFour IT today to fortify your cybersecurity defences and protect what matters most.
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