Sift released a report which details the evolving methods fraudsters employ to launch account takeover (ATO) attacks against consumers and businesses. The report details a sophisticated fraud ring that sought to overwhelm e-commerce merchants by innovating upon typical credential stuffing campaigns. Specifically, the fraud ring, dubbed Proxy Phantom, used a massive cluster of connected, rotating IP addresses in carrying out automated credential stuffing attacks to hack user accounts on merchant websites. Using over 1.5 million … More

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