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Alert: Phishing Targets BlockFi, FTX Creditors

Cryptocurrency scammers have set their sights on creditors of insolvent digital asset giants FTX and BlockFi
March 26, 2024

In a troubling turn of events, crypto scammers have set their sights on the creditors of bankrupt digital asset firms FTX and BlockFi, as revealed by online blockchain sleuth Plumferno.

Reports have surfaced indicating that individuals awaiting reimbursements from these struggling exchanges have fallen victim to sophisticated phishing emails. These deceptive messages, bearing striking resemblance to legitimate correspondence, promise instant withdrawals of remaining balances, preying on the frustrations of claimants.

Security expert Plumferno, sounding the alarm on Twitter, highlighted the nefarious tactics employed by these scammers. With losses reaching a staggering $7 million over just five days, it's evident that these cybercriminals are executing a well-orchestrated phishing campaign.

What makes this scam particularly insidious is the revelation that many victims are unaware of the theft, with assets pilfered from dormant wallets—individuals who likely haven't accessed their funds since the BlockFi bankruptcy.

Moreover, the scope of this scheme extends beyond BlockFi, with FTX creditors also falling prey to similar fraudulent tactics. Under the guise of "restructuring efforts," scammers have duped users into believing they can fully withdraw their assets, further exacerbating the situation.

Plumferno's investigation uncovered a disturbing detail: the scammers leveraged compromised email addresses from Mailer Lite's data breach earlier this year. This breach, occurring in January, provided the perpetrators with a trove of contact information, facilitating their fraudulent activities.

As the crypto community grapples with this alarming trend, it's imperative for users to remain vigilant and exercise caution when engaging with digital communications. The repercussions of falling victim to such scams are not only financial but also undermine trust within the industry.

In the wake of these incidents, it's clear that bolstering cybersecurity measures and enhancing user awareness are paramount to safeguarding against malicious actors in the ever-evolving landscape of digital finance.

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