Cryptographic scams increase while more and more people are flocking to digital currencies, fraudsters exploiting the rapid growth of industry to deceive investors.
Recently, many crypto users have said they had received fraudulent emails saying that Gemini Exchange had filed for bankruptcy. Meanwhile, Coinbase Exchange admitted that an employee has accessed information on illegally accessible user accounts.
Gemini Exchange approaches bankruptcy allegations
Several accounts have highlighted the scam on social networks, indicating that A wrongly circulating email says Gemini has filed a record. E-mail asked users to withdraw on an exodus and supplied wallet a seed sentence.
These phishing emails, shared on April 1, urged the recipients to withdraw their funds from a cryptographic portfolio specified to protect their assets. It was an attempt to deceive users in the transfer of their cryptocurrencies to wallets controlled by crooks.
“Do not follow these instructions. Please retweet to protect those who may have been Doxxed and sent this email,” wrote Jason Williams, contributor to Fox Business.
The deceived emails allegedly allegedly a substantial loss of $ 1.2 billion per Gemini Exchange. Naturally, some novice investors would take this email into account and even transfer their assets to the address. After all, some victims of the contagion of FTX exchanges continue to continue their funds even years after the incident.
“I also have one. It’s better than your typical “base”, but not quite there. Could deceive a boomer, ”said an X user.
However, safety experts advise users to always check the information via official channels, avoid clicking on unlined links and refrain from sharing personal data. Gemini issued an official warning in response to the scam, recognizing the threat against its users.
“We have recently learned that some Gemini customers are targeted with scam emails asking users to transfer their cryptocurrency to external wallets. Please note that Gemini will never ask you to send crypto to external wallets,” said the exchange.
Coinbase admits to employees the illegally accessible user accounts
Coinbase Exchange recognized a violation of privacy by one of its employees in somewhat linked development. More specifically, a customer service employee has accessed information from the user account without authorization.
This violation has raised concerns about potential scams targeting Coinbase users. Mike Dudas, a crypto investor and co-founder of the block, shared an e-mail from Coinbase recognizing the incident.
“This explains the false emails and telephone calls from Phishing Coinbase today,” he said.
This violation coincides with phishing attempted relationships, as users have received false emails and calls claiming to be Coinbase. These incidents reflect a wider wave of fraud linked to crypto.
Blockchain investigator Zachxbt reported that Coinbase users had lost more than $ 65 million against social engineering scams between December 2024 and January 2025.
“Coinbase did not detect it; I sent them the Intels,” noted the blockchain.
In addition, the crypto cobie analyst suggested that Kraken could encounter a similar problem. Depending on his article, a new attack can be aspired, where the attackers infiltrate the roles of customer service to exfiltrate the data.
“Kraken also recently struck this.
In the midst of these events, Zachxbt recently explained how to avoid cryptographic scams. He underlines the importance of conducting in -depth research before engaging with new DEFI protocols, in particular those from existing projects on the newly launched EVM channels.
In addition, he advises caution when it comes to projects with few credible disciples, as these can indicate potential scams.
Consequently, it is imperative that users remain vigilant against sophisticated phishing scams and unauthorized data violations.
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