The increased attempts at phishing attacks has caused an increased number of users of localethereum to lose investment to websites that impersonate the original website. Phishing attacks are getting better and more difficult to prevent as the hackers use new methods on the website.

This challenge is set to be tackled by the recent partnership between P2P Ether (ETH) exchange and PhishFort by increasing the security measures of the website. Localethereum will be more effective in taking down the phishing websites.

PhishFort is well-known platform that protects blockchain projects from hacks and phishing attacks by monitoring various sources across the internet, including social media, app stores, and the web. Once the attacks are identified, they are blacklisted and taken down speedily. Furthermore, PhishFort blacklists these websites across a number of platforms.

The phishing attacks involves the unfortunate victim entering their localethereum password on an impersonation of the localethereum website. Due to the cryptographic secure nature of localethereum, this equates to sharing your wallet’s private keys which places your coins at risk. If the account is compromised, then a user cannot recover the account as you can’t simply swap your wallet’s private key for a new one.

Furthermore, the platform handles millions in dollars in its weekly transaction volumes which has placed the exchange at even a greater risk as hackers become more sophisticated in their attempts.

The statement release also warned the users of localethereum to be very wary of suspicious emails and check the emails are sent from the official “@localethereum.com” sender address. No emails will be sent to localethereum users to say an account is being “suspended” or “under review.”

Uses should always ensure they are on the official “localethereum.com” URL and check for the EV Certificate (“LocalEthereum Pty Ltd [AU]”) that should be present when loading the website.

266 +