Bit.ly Targeted with bank Phishing

We have seen security features of bit.ly and its increased use as short url service , now it been exploited to send bank phishing emails

 

Here is the link

hxxp://bit.ly/czFcBc

with following content

Security Alert:

Dear Valued Customer
Your Account has generated an error code on our Account Maintainance Server.
As an additional security measure, you are required to follow the security link below to
avoid such occurence in the future.
Please follow the link below to resolve this problem:

this link redirect to hacked site

hxxp://75.125.175.170/~makiasan/case/site.php

 

then redirects with 302 code to following link hosting the phishing pages.

hxxp://pasteups.com/Help/Common%20Wealth/icici/onlineverification.do/indexx.html