Internet Security

What is social engineering? Definition, types, attack techniques

Check out the on-demand sessions from the Low-Code/No-Code Summit to learn how to successfully innovate and achieve efficiency by upskilling and scaling citizen developers. Watch now. Table of contentsWhat is social engineering?Types of social engineering techniques and methods10 top best practices to detect and prevent social engineering attacks in 2022 Social engineering is the very…

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Table of contents

  • What is social engineering?
  • Types of social engineering techniques and methods
  • 10 top best practices to detect and prevent social engineering attacks in 2022

Social engineering is the very common practice of exploiting a human element to initiate and/or execute a cyberattack. 

Human weakness and ignorance present such easy targets that fully 82% of the attacks in Verizon’s 2022 Data Breach Investigations Report were perpetrated, at least in part, via some form of social engineering.

In this article, we look at the forms of social engineering that are frequently used and best practices for limiting its effectiveness within the enterprise.

What is social engineering?

A dictionary definition of social engineering (in the context of cybersecurity) is “the use of deception to manipulate individuals into divulging confidential or personal information that may be used for fraudulent purposes.” 

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At the most basic, this includes the mass-market spamming of individual email accounts with a phishing attempt such as an offer for a free gift certificate from a well-known retailer. Consumers who click a link to a malicious website or open an infected file attachment and enter personal information may open themselves up to criminal exploitation.

For higher-value, enterprise targets, the technique can become quite a bit more elaborate — or remain stunningly simple.

Roger Grimes, data-driven defense evangelist at security awareness training vendor KnowBe4, calls it for what it is: a con, a scam. “It’s someone pretending to be a brand, company or person you would … trust more than if you know the message was being sent by a complete stranger trying to trick you into doing something that will impact you or your organization’s own interests,” he explained. “The desired actions are often to launch a malicious program, provide logon passwords, or to provide confidential content (e.g., social security number, banking information, etc.).” 

The criminal uses psychological manipulation to trick the user into performing actions or divulging confidential information. Seven means of persuasive appeal, as outlined by Robert Cialini in Influence: The Psychology of Persuasion, are commonly cited in explaining why people are vulnerable to their application in social engineering:

  • Reciprocity
  • Scarcity
  • Authority
  • Liking
  • Commitment
  • Consensus
  • Unity

Many social engineering attempts come via email, but that is not the only channel. Social engineering is also accomplished via SMS messages, websites, social media, phone calls or even in person. 

As Manos Gavriil, head of content at hacking training firm Hack The Box, points out, “Social engineering is considered the number one threat in cybersecurity, as it exploits individual human error, which makes it very hard to stop, and even the simplest forms of attack can have a devastating impact.”

Types of social engineering techniques and methods

Social engineering is accomplished in a variety of ways:  

  • Pretexting: This involves the false presentation of identity or context to make a target believe they should share sensitive data or take a compromising action, and it is an element in most social engineering.
  • Baiting: The adversary usually offers a fake promise of something to deceive the victim, steal sensitive information or infect the organization with malware.
  • Phishing: The attacker sends out large volumes of emails, without a specific target in mind, in the hope that a malicious link or attachment will be clicked to give the attacker access to sensitive information. 
  • Spear phishing: Masq

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Internet Security

Oregon passes bill to establish legal control standards for digital assets

Key Takeaways Oregon passed Senate Bill 167 to update commercial laws and include digital assets in the UCC. The new law allows digital assets to be used as collateral and recognizes electronic records and signatures. Share this article Oregon has enacted Senate Bill 167, updating the state’s commercial laws to incorporate digital assets into the

Key Takeaways

  • Oregon passed Senate Bill 167 to update commercial laws and include digital assets in the UCC.
  • The new law allows digital assets to be used as collateral and recognizes electronic records and signatures.

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Oregon has enacted Senate Bill 167, updating the state’s commercial laws to incorporate digital assets into the Uniform Commercial Code (UCC).

The legislation, signed by Governor Tina Kotek on May 7, introduces UCC Article 12, which creates a legal framework for digital assets including crypto assets, tokenized records, and electronic money.

The bill amends Article 9 to allow digital assets to be used as collateral in secured transactions. It also updates several UCC articles to recognize electronic records, signatures, and hybrid transactions to support digital commerce.

The new law includes transitional provisions that maintain the validity of transactions made before the act’s effective date and provides a one-year period for existing security interests to comply with the new regulations.

Before these changes, there was legal uncertainty about how digital assets fit into existing commercial laws, especially when used as collateral or transferred between parties. The UCC amendments clarify how rights in these assets can be legally controlled, perfected, and enforced.

Apart from SB 167, House Bill 2071 is another crypto-related bill introduced in Oregon.

This proposed legislation focuses on blockchain and digital asset rights. It is aimed at protecting and promoting the use of Bitcoin and other digital assets in the state by limiting regulatory barriers and clarifying the legal framework for blockchain-based activities.

Some of the highlights of the bill include a prohibition on state and local governments from restricting or impairing a person’s ability to accept digital assets as payment for lawful goods and services, as well as the right to conduct peer-to-peer transactions via blockchain or digital asset networks.

The bill is still in the early stages of the legislative process and has not yet advanced to a vote in either the House or the Senate.

Unlike most US states, Oregon lawmakers have not proposed any bill to create a state Bitcoin reserve as of now.

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Internet Security

White House rejects parts of Trump advisers’ sovereign wealth fund proposal

Key Takeaways The White House has rejected parts of a sovereign wealth fund proposal created by Trump’s advisers. The details of the sovereign wealth fund are still under debate with no final decisions announced yet. Share this article The White House has opposed certain elements of a sovereign wealth fund proposal developed by Treasury Secretary

Key Takeaways

  • The White House has rejected parts of a sovereign wealth fund proposal created by Trump’s advisers.
  • The details of the sovereign wealth fund are still under debate with no final decisions announced yet.

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The White House has opposed certain elements of a sovereign wealth fund proposal developed by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick at President Trump’s request, according to a new report from CBS News.

The plan, reportedly delivered by early May, follows Trump’s February executive order directing the Treasury and Commerce departments to develop a framework for a US sovereign wealth fund within 90 days.

The order fueled speculation that the fund might be used to acquire Bitcoin on behalf of the US government.

However, at the time, Bessent and Lutnick said that the fund would indeed focus on warrants, equity, and other non-crypto investments. Still, David Sacks, Trump’s crypto czar, indicated that Bitcoin could be included in the fund’s portfolio.

That no longer appears to be the case after Trump signed a separate executive order establishing a strategic Bitcoin reserve and a digital asset stockpile on March 6, which suggests a standalone approach to crypto holdings.

There were also rumors that the fund might be financed through tariffs and other revenue sources despite ongoing budget deficits. But Lutnick later clarified that tariffs would not be used to support the sovereign wealth fund.

According to the CBS News report, White House spokesperson Kush Desai said the Treasury and Commerce Departments have developed plans in response to Trump’s directive, but no final decisions have been made.

The administration, Desai added, continues to view the initiative as part of its broader effort to safeguard national and economic security.

Details of the fund’s structure and purpose remain under discussion, with no formal announcement expected in the near term.

Sources say Trump has not yet decided how the fund’s proceeds would be used, though he has previously floated the idea of it taking a stake in TikTok, which faces a potential US ban unless ByteDance divests.

Regarding the US Strategic Bitcoin Reserve and the Digital Asset Stockpile, Bessent and Lutnick are also tasked with outlining operational guidelines, custody frameworks, and acquisition strategies. These plans are expected to remain separate from the sovereign wealth fund initiative and are designed to be budget-neutral.

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Internet Security

Crypto Security Breach at Lido DAO Triggers Governance Response

TLDR Lido DAO started an emergency vote to rotate a compromised Chorus One oracle The exploit drained ETH balance and likely resulted from a hot wallet private key leak The issue is restricted to one oracle and is not system-wide Cybersecurity remains a critical issue for cryptocurrency and DeFi Over $2 billion in crypto was

TLDR Lido DAO started an emergency vote to rotate a compromised Chorus One oracle The exploit drained ETH balance and likely resulted from a hot wallet private key leak The issue is restricted to one oracle and is not system-wide Cybersecurity remains a critical issue for cryptocurrency and DeFi Over $2 billion in crypto was […]
The post Crypto Security Breach at Lido DAO Triggers Governance Response appeared first on Blockonomi…
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Internet Security

CZ Shares Security Warning After Ledger Discord Hack Exposes User Data

Changpeng Zhao (CZ), founder and former CEO of Binance, shared a security warning after receiving a message regarding a hack of Ledger’s Discord admin account, where a scammer falsely claimed a security flaw and urged users to enter their recovery phrases on a phishing site. Zhao highlighted two critical lessons: the necessity of never sharing

Changpeng Zhao (CZ), founder and former CEO of Binance, shared a security warning after receiving a message regarding a hack of Ledger’s Discord admin account, where a scammer falsely claimed a security flaw and urged users to enter their recovery phrases on a phishing site. Zhao highlighted two critical lessons: the necessity of never sharing [……
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