Definition ∞ CEO fraud is a deceptive practice where an attacker impersonates a company executive to trick an employee. The goal is to manipulate the employee into transferring funds or sensitive information. This social engineering attack often uses fraudulent emails or other communications. It bypasses standard security by exploiting authority.
Context ∞ In the digital asset sector, CEO fraud presents a considerable danger, particularly for exchanges and custodial services holding significant crypto reserves. Such attacks can cause substantial financial losses and harm a company’s standing. This prompts heightened cybersecurity and internal verification. News often details incidents where advanced phishing targets high-value transactions or confidential data within crypto firms.
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