CERT-In Warns of Payment API Attacks: Protecting Your Card and Crypto Wallet
India's CERT-In issued an urgent advisory after a wave of attacks on financial organizations. Here's what happened and which steps help protect your card, subscriptions and crypto wallet.
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Earlier this month, around 20 financial institutions were hit by coordinated cyberattacks. According to CERT-In, attackers exploited stolen partner-bank credentials and vulnerabilities in payment APIs to move funds out. The regulator issued an urgent advisory — and it matters not only to banks, but to anyone who pays by card or keeps money in a crypto wallet.
What happened
The attack relied on two components: stolen partner-bank logins and holes in payment APIs. Through these channels, attackers initiated transfers that looked legitimate to internal systems. CERT-In released an advisory with recommendations for financial organizations, but they indirectly apply to regular users too.
Why cardholders should care
Payment APIs are the invisible infrastructure between your card and the merchant. When they're compromised, money can leave without your involvement. Virtual cards aren't a silver bullet, but they offer a key advantage: you control limits and can issue a new card in minutes without waiting for a plastic replacement.
Protection steps
- Enable 2FA everywhere possible. Use an authenticator app or hardware key, not SMS. SMS codes can be intercepted via SIM-swap.
- Check notifications for every transaction. If your bank or service doesn't send push alerts, turn them on manually. Fast reaction means a chance to reverse the transfer.
- Don't keep all funds on one card. For online payments, use a separate virtual card with a limit, not your main salary card.
- Be wary of emails from "your bank" or "the exchange." Phishing disguised as payment services is the most common vector. Check the sender's domain and don't click links in emails.
- For crypto wallets, keep your seed separate. Never enter your seed phrase on any website, even if it looks like an official service. A real wallet never asks for it.
- Review active subscriptions regularly. Fraudulent subscriptions often hide behind free trials — small charges that are easy to miss.
If money is already gone
Immediately freeze your card via the app, contact your bank or payment service support with the time and amount of the transaction, and save screenshots. For crypto: if funds have left your wallet, recovery is virtually impossible — prevention matters more than reaction here.
FAQ
Does a virtual card protect against such attacks?
It reduces risk: limits, a separate balance, and quick replacement. But if the payment API on the service side is compromised, that's independent of your card type.
How do I know my data was stolen?
Signs include: charges you didn't make, login alerts from unknown devices, password resets you didn't request. If any occur, change passwords and freeze your card.
Should I cancel all subscriptions?
Not necessarily. Checking your active charges once a month and disabling anything you don't recognize is enough.
This material is for informational purposes only and is not financial advice.
Service and game names are mentioned as a fact and belong to their respective rights holders. VirtCardHub is not affiliated with them.
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Sources
This material is for informational purposes only and is not financial advice. Ad platform and service rules, limits, and payment terms change, so check primary sources before paying. Third-party brand and service names are used only to describe payment scenarios; VirtCardHub is not their official partner.