Silicon Valley Bank Customers: Beware of Crypto Scams!

• Silicon Valley Bank customers were at risk of becoming victims of crypto scams.
• The cyberthieves sought to acquire the victims’ bank account information, which included their computer data.
• Cyble Research and Intelligence Labs warned that such scams often come in the form of free USDC offerings.

Silicon Valley Bank Suffer Shutdown

The California Department of Financial Protection and Innovation shut down Silicon Valley Bank after it became clear that the institution would not have enough capital to remain afloat. This sparked a number of fraudulent websites claiming to contain information about the closure, which maliciously installed malware on unsuspecting browsers‘ computers.

Crypto Thefts & Phishing Scams

Cyble Research and Intelligence Labs (CRIL) have recognized these scam sites and have put out warnings regarding their dangers. They noted that threat actors are using this announcement to launch their malicious campaigns, with a sense of urgency surrounding the situation as people try to figure out how to communicate with SVB and pay urgent bills. As well as malware, CRIL warned that phishing scams can be used in order to steal cryptocurrency from potential victims, typically in the form of free USDC offers.

SANS Dean Of Research’s Warning

Johannes B. Ullrich – dean of research at – has also highlighted how dangerous this situation is for those affected by Silicon Valley Bank’s closure, urging them to be aware so they don’t fall victim to any malicious activities online. He added that many companies and individuals employed by companies have questions about paying urgent bills, but unfortunately it isn’t always clear how or where they should go for help without falling prey to scammers in disguise.

Protecting Yourself From Crypto Scams

As with all types of cybercrime, it’s important for users to take extra steps in order ensure they are not putting themselves at risk when browsing online or engaging with suspicious content or offers on social media platforms or other websites. Common sense should prevail; if something appears too good to be true then it usually is! As such, users should never click on any links sent from unknown sources or download files from unsolicited emails—even if they appear genuine—as these could potentially include malware or viruses designed specifically for crypto theft purposes.


It is essential for everyone—not just those affected by Silicon Valley Bank’s closure—to stay vigilant in order protect themselves against crypto-related crime online. By following simple security measures such as avoiding suspicious links and downloads, users can significantly reduce their chances of being targeted by cybercriminals looking to exploit vulnerable systems and mine digital assets from unsuspecting users’ computers .