New feature enables customers to monitor up to 10 crypto wallets for breach and dark web exposure
CyEx, a leading provider of cyber and data breach response solutions, today announced the addition of Crypto Wallet Monitoring to its Financial Shield offerings, expanding its flagship financial protection solution to help consumers defend against one of the fastest-growing forms of cybercrime.
Crypto wallet fraud is rapidly emerging as the most costly form of online crime targeting consumers. Last year, according to the FBI’s Internet Crime Complaint Center (IC3), Americans reported $11.3 billion in losses to cryptocurrency related fraud, a 22% increase year-over-year. Average losses per complaint totalled $62,600, with more than 18,500 complaints resulting in losses totalling more than $100,000.
“Cryptocurrency has become an increasingly attractive target for cybercriminals, and unlike traditional financial fraud, victims often have little or no opportunity to recover stolen assets,” said Jerry Thompson, Founder & President at CyEx. “By integrating Crypto Wallet Monitoring into our Financial Shield products, we’re giving consumers early visibility into potential threats so they can take action before exposed wallet information becomes irreversible financial loss.”
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Whether attackers obtain wallet-related information directly or leverage stolen personal information to impersonate trusted financial institutions, today’s crypto attacks often begin with compromised data. Financial Shield + Crypto Wallet Monitoring is designed to help consumers detect those risks earlier by monitoring both the personal information and wallet identifiers that criminals increasingly rely upon.
Available as Financial Shield + Crypto Wallet Monitoring, the new feature monitors up to 10 cryptocurrency wallets for signs of exposure in data breaches and on the dark web. If a monitored wallet is identified in criminal marketplaces or breach data, customers receive a real-time alert so they can take immediate action to secure their assets before funds are lost.
The enhancement builds on Financial Shield’s suite of financial protection capabilities, including financial transaction monitoring, home title monitoring for up to 5 properties, high risk transaction monitoring, three bureau credit monitoring1, dark web monitoring, fraud and ID resolution services and $1M insurance available on most fraud categories.
“Digital assets are becoming an increasingly important part of consumers’ financial lives,” said Jerry Thompson, Founder & President at CyEx. “Our goal is to continue evolving Financial Shield so it protects customers against the threats they face today—not the ones they faced five years ago.”
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