IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v16y2023i5p271-d1146393.html
   My bibliography  Save this article

Phishing Attacks on Cryptocurrency Investors in the Arab States of the Gulf

Author

Listed:
  • Marwa Alyami

    (Information Systems Department, College of Computer Science and Information Systems, Najran University, Najran 61441, Saudi Arabia)

  • Reem Alhotaylah

    (Information Systems Department, College of Computer Science and Information Systems, Najran University, Najran 61441, Saudi Arabia)

  • Sawsan Alshehri

    (Information Systems Department, College of Computer Science and Information Systems, Najran University, Najran 61441, Saudi Arabia)

  • Abdullah Alghamdi

    (Information Systems Department, College of Computer Science and Information Systems, Najran University, Najran 61441, Saudi Arabia)

Abstract

With the rapid development of technology in all fields, including the financial field, people have flocked to invest in cryptocurrencies, sometimes without prior knowledge or experience. This has prompted hackers to prey on inexperienced investors through many types of fraud and attacks, especially phishing attacks. Cryptocurrency investment transactions take place without intermediaries such as banks and monetary institutions. Investing in cryptocurrencies is a form of peer-to-peer transaction and takes place without the involvement of physical wallets. This study addresses cases where people may become victims of phishing attacks due to the nature of cryptocurrency investments. The aim of this study was to understand the concepts of various phishing attacks on cryptocurrencies and to measure the awareness of cryptocurrency investors in the Arab Gulf countries regarding the security risks associated with cryptocurrency investments. This research was conducted by distributing a questionnaire among cryptocurrency investors and collecting and analyzing all the survey responses. The results reveal a lack of awareness about how to deal with the security risks associated with cryptocurrency investments. The research concludes that the majority of cryptocurrency investors are unaware of how to deal with phishing attacks. Finally, we address future research directions and recommend actions that can be taken to increase investors’ awareness of this issue.

Suggested Citation

  • Marwa Alyami & Reem Alhotaylah & Sawsan Alshehri & Abdullah Alghamdi, 2023. "Phishing Attacks on Cryptocurrency Investors in the Arab States of the Gulf," JRFM, MDPI, vol. 16(5), pages 1-14, May.
    • Handle: RePEc:gam:jjrfmx:v:16:y:2023:i:5:p:271-:d:1146393
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/16/5/271/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/16/5/271/
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mohammad Javad Rajaei & Qusay H. Mahmoud, 2023. "A Survey on Pump and Dump Detection in the Cryptocurrency Market Using Machine Learning," Future Internet, MDPI, vol. 15(8), pages 1-17, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:16:y:2023:i:5:p:271-:d:1146393. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.