Hackers Pose as Executives and Use Fake NDAs to Steal Corporate Payments

Cybercriminals impersonated Gen executives and trusted business advisers in a targeted fraud campaign designed to steal more than €626,000 through a fake corporate acquisition.

The campaign, called Phantom Deal, began with a WhatsApp message from a person claiming to be a real Gen executive in Dublin. The attacker used the executive’s name, photograph and an Irish phone number to make the approach appear legitimate.

The initial message did not mention money or urgency. Instead, it asked whether the target was available to talk.

The recipient, a Gen legal-team employee identified as David, knew the executive being impersonated. He became suspicious because the phone number was unfamiliar.

A phone call confirmed the fraud. The caller’s voice did not match the real executive. David continued the conversation as part of a controlled investigation.