Social Engineering Definition
Social Engineering in the context of cybersecurity refers to the manipulation of individuals into revealing confidential information that can be used unauthorized or potentially harmful activities. It’s an approach used by cybercriminals to gain access to systems, networks, or data by exploiting human psychology rather than exploiting system vulnerabilities.
Social Engineering Key Points
- Relies on manipulating human tendencies rather than technological flaws.
- Often used by cybercriminals to gain unauthorized access to information or systems.
- Techniques involve tricking individuals into revealing confidential information.
- Can take the form of phishing, baiting, pretexting, and quid pro quo, among others.
What is Social Engineering?
Social Engineering is a method employed by hackers that focuses on the human element of cybersecurity. It is based on the idea that it’s easier to deceive people into giving up sensitive information than it is to break through complex technological security measures. By manipulating individuals into performing specific actions or divulging confidential information, cybercriminals can bypass stringent security protocols.
Why is Social Engineering Significant in Crypto and Blockchain?
In the crypto and blockchain world, social engineering is particularly significant due to the irreversible nature of blockchain transactions and the anonymity provided by cryptocurrency networks. This fact makes them attractive targets for social engineering attacks. Once the fraudulent transaction has been made using the stolen information, it is almost impossible to track and reverse it.
Where Does Social Engineering Occur?
Social engineering takes place anytime and anywhere people and digital systems interact. It may occur over email, through social media, over the phone, or even in person. In the blockchain and crypto world, it could take place in online forums, in crypto exchanges, or through direct messages.
Who are the Targets of Social Engineering?
Anyone can be a target of social engineering, but particularly those who are uneducated about the tactics used or the importance of information security. However, in the crypto and blockchain field, targets are often individuals or businesses that possess valuable digital assets or have access to important information or systems related to these assets.
How Does Social Engineering Work?
Social Engineering works by convincing an individual to give out confidential information or perform actions that compromise their security. This could be achieved through creating a sense of urgency, masquerading as a trusted entity, or even by earning the unwary user’s trust over time. Through sophisticated methods such as phishing, pretexting, and baiting, attackers manipulate their victims by capitalising on their trust, curiosity or fear.
