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Market News

Crypto Firm Targeted in Phishing Scam

Written By:
Brian Mutembei

Last updated: January 23, 2024 4:07 PM
Published 2024-01-23
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Crypto Firm Targeted in Phishing Scam

Cryptocurrency media outlet Cointelegraph and several other companies have become targets of a phishing scam. The issue arose following a Jan. 23 Telegram post by blockchain investigator ZachXBT. 

Analysis from blockchain analytics service Arkham Intelligence revealed numerous transactions linked to the scam, mostly starting on Jan. 23. Etherscan’s data confirm this, showing 80 Ethereum transactions tied to the attack. Investigations are underway to determine how the attackers managed to send emails appearing to originate from these firms. 

One suspected method is email spoofing, where attackers manipulate email headers to mimic legitimate sources. Although modern email services usually block such attempts, success is possible through DNS record tampering.

Another possibility is direct access to the companies’ email servers or individual employee accounts, achieved through phishing, malware, or exploiting previous data breaches.

In response, Cointelegraph alerted its readers, while Etherscan added a phishing scam warning on the associated address’s page. WalletConnect reported awareness of a phishing campaign promoting a fake airdrop, clarifying no employee involvement.

We’re aware of an email that appears to have been sent from an email address linked to WalletConnect prompting recipients to open a link to be able to claim an airdrop.

We can confirm that this email was not issued directly from WalletConnect or any WalletConnect affiliates, and… pic.twitter.com/bksAlMnWja

— WalletConnect (@WalletConnect) January 23, 2024

Similarly, Cointelegraph acknowledged the scam, stating they do not issue airdrops. Token Terminal and De.Fi also issued warnings, with De.Fi suggested the compromise of their email service provider, MailerLite, as the likely cause.

Also Read: Crypto Data Provider, CoinGecko faces Phishing Attack

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Brian Mutembei Formar Crypto Journalist at The Crypto Times
By Brian Mutembei
Brian is a content writer& Blockchain enthusiast. Writes extensively on blockchain, cryptocurrency, and tokens to spread knowledge and awareness.

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