Users of crypto exchanges Coinbase and Gemini have fallen victim to new phishing attacks. Fake emails claiming to be from these platforms urge users to set up new wallets using pre-generated recovery phrases.
Phishing Schemes Imitating Coinbase
Recently, users have reported phishing emails that impersonate official Coinbase communications. Scammers urge users to transition to self-custodial wallets by April 1, providing instructions for downloading the Coinbase Wallet. However, the emails also provide pre-generated recovery phrases, allowing attackers to potentially drain the wallet once funds are transferred. Coinbase has stated that they never send recovery phrases, advising users not to utilize phrases provided by third parties.
Fraudulent Gemini Emails
Gemini exchange users have similarly been targeted by phishing attacks. Scammers claim that new wallets must be set up due to a court ruling. Fraudulent emails instruct users to create wallets with provided recovery phrases. Gemini has yet to comment on the attacks.
Combating Security Threats
Security remains a crucial topic amid rising phishing attacks, with unknown entities exploiting various methods, including Zoom calls to steal data. Personal security and awareness of such threats are critical for safeguarding assets.
The attacks on Coinbase and Gemini users highlight the increasing security threat in the crypto world. Users are advised to be cautious of suspicious communications and protect their data vigilantly.
