Researchers studying cybersecurity have provided insight into a group of cybercriminals known as Jingle Thief, who have been seen committing gift card fraud in cloud settings connected to businesses in the retail and consumer services industries.
Palo Alto Networks Unit 42 researchers Stav Setty and Shachar Roitman stated in a Wednesday report that Jingle Thief attackers employ phishing and smishing to acquire passwords and compromise companies that provide gift cards. They want the kind and degree of access required to issue fraudulent gift cards after they have gained entry to an organization.
By reselling the given gift cards on gray markets, the ultimate objective of these initiatives is to use them as leverage for financial advantage. Gift cards are a profitable option since they are easy to use with little personal information and are hard to track down, which makes it more difficult for defenders to look into the fraud.
The threat actor’s habit of committing gift card fraud during festive seasons and holiday periods is referenced in the term Jingle Thief read more about “Jingle Thief” Hackers Exploit Cloud Infrastructure to Steal Millions in Gift Cards.
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