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Our analysis of the situation
Another wave of supply chain email scams has hit the cryptocurrency space, and Tether’s CEO, Paolo Ardoino, isn’t taking it lightly. In a recent post, Ardoino warned the community to be on high alert as the issue is addressed.
On Wednesday, reports surfaced about suspicious emails targeting crypto investors. The emails claimed to offer upcoming token airdrops, with one pretending to be from Bitfinex. The fraudulent message announced an ERC20 airdrop of a supposed new $BFX token, capitalizing on the recent approval of Ethereum spot exchange-traded funds (ETF).
Despite the official appearance of the emails, it soon became clear that the accompanying website was a scam. One user tested it with an empty wallet, only to discover they were “not eligible” for the airdrop. A further attempt using Rabby Wallet's watch-only feature exposed the scam's tactic of redirecting all ETH to a separate empty wallet for each victim, making it harder to track.
Meanwhile, other users reported receiving suspicious emails from Coinbase, also bearing the official address. The misleading communication falsely stated that Coinbase was closing down and required users to verify secondary addresses, using racial slurs and doxxing the sender in an unauthorized post.
In response to the ongoing scams, Tether and Bitfinex’s CEO, Paolo Ardoino, has emphasized the severity of the situation. He confirmed that a major vendor used by crypto companies had suffered a security breach, affecting the mailing lists of several prominent companies. COO Bobby Ong of CoinGecko also cautioned users about the potential threat of fake token launches through email blasts.
This isn't the first time the crypto industry has been targeted by supply chain email attacks – a similar phishing campaign drained approximately $600,000 from investors earlier this year. As of now, there are no official reports of affected users or lost funds, but vigilance is crucial.
The cryptocurrency community needs to remain cautious and implement stringent security measures in light of these scams. It’s vital to stay informed and remain skeptical of unsolicited emails, especially in the wake of such attacks.
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Image(s) are provided by Unsplash or other free sources. They are illustrative and may not represent the content truly.
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Please, behave!