A new cyber-fraud campaign called Jingle Thief is targeting retailers and companies that issue gift cards. Hackers break into cloud accounts and use legitimate company tools to issue unauthorized gift cards. This method makes the fraud hard to spot and allows theft at large scale. The reported losses run into the millions.
The attack starts with targeted phishing emails or SMS messages that trick employees into giving up login details. Fake login pages impersonate services like Microsoft 365 to harvest credentials. Once credentials are stolen, attackers access cloud consoles and internal files. That access reveals where gift-card workflows and issuance systems live.
After getting inside, the attackers move slowly and quietly to avoid detection. They map systems, escalate privileges, and search for gift-card issuance processes. Because the fraud uses trusted cloud tools, normal defenses and endpoint alerts often miss it. Long dwell time lets attackers issue many high-value cards over weeks or months.
Gift cards are ideal for cashing out because they need little personal information and can be resold quickly. Criminals can convert cards to funds or sell them on unofficial marketplaces. This makes gift-card fraud both profitable and difficult to trace. Victims can face large cumulative losses before detection.
Threat analysts describe the campaign as financially motivated and note cloud-native techniques rather than traditional malware. Some indicators point to operators in certain regions, but attribution remains uncertain and should be treated cautiously. The group has shown persistence and adaptation over time. The primary behavior is credential theft followed by abuse of cloud issuance workflows.
Attackers use stealthy tricks to hide activity, such as moving phishing emails to deleted folders and creating hidden forwarding rules. They also perform issuance during off hours to blend into normal business noise. Because actions occur within legitimate accounts, log data may appear routine unless specifically monitored. These techniques slow down detection and investigation.
Defensive steps for organisations are straightforward and practical. Enforce strong multi-factor authentication, restrict who can access issuance systems, and require approvals for high-value transactions. Monitor for unusual issuance volumes, activity outside normal hours, and new accounts requesting large batches. Keep audit logs and extend retention so slow intrusions can be reconstructed.
Consumers should avoid buying heavily discounted gift cards from unofficial sources and report strange balances immediately to the retailer. If a purchased card shows unexpected activity, contact the company’s support team right away. Awareness helps reduce demand for resold fraudulent cards. Businesses and customers together can limit the impact of this campaign.
Stay alert, and keep your security measures updated!
Source: Follow cybersecurity88 on X and LinkedIn for the latest cybersecurity news
