Update as of June 5, 12:00 pm UTC: New information has been added to this report, featuring quotes from Cyvers.
It is imperative for cryptocurrency users to remain vigilant, as a well-known figure in the industry raises the alarm about a potential surge in crypto airdrop scam emails.
According to Paolo Ardoino, the CEO of Tether, a popular email list management service extensively used by crypto companies may have been compromised in a recent data breach.
In a post on June 5, Ardoino cautioned his 234,000 followers about the situation. While the CEO did not reveal the name of the affected company, he assured that more details would be shared once the investigation is concluded.
Cointelegraph has reached out to Tether for a statement regarding the incident.
To shield themselves from phishing attempts, users are advised by Hakan Unal, a senior blockchain scientist at on-chain security firm Cyvers, to verify the authenticity of emails and enable two-factor authentication (2FA) on their crypto platforms. Speaking to Cointelegraph, Unal stated:
Following Ardoino’s initial alert, a third entity confirmed the attack – cryptocurrency tracking platform CoinGecko. According to Bobby Ong, the co-founder and COO of CoinGecko, the breach impacted a vendor providing crypto email newsletters to various companies.
In a post on June 5, Ong cautioned users about the potential impact on CoinGecko:
He also warned users to refrain from clicking on any links associated with a fraudulent CoinGecko token, which is not in the works, or any emails promising new token launches.
The prevalence of crypto scams and hacks continues to be a significant concern within the industry. A report by PeckShield on June 1 revealed that over $574 million in digital assets were lost in 30 separate crypto hacks during May 2024.
The figure represents a staggering 666% increase from the $385 million lost in crypto hacks the previous month of April.
Source: PeckShield
It is evident that the threat of crypto scams and hacks remains a persistent challenge that the industry must address.
Tether CEO alerts to rise in crypto airdrop scam emails potential impact on CoinGecko