CDS Crypto News Crypto News Today- Tether CEO Cautions Against New Crypto Airdrop Scam Emails, Potential Impact on CoinGecko
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Crypto News Today- Tether CEO Cautions Against New Crypto Airdrop Scam Emails, Potential Impact on CoinGecko

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Crypto News Today- Tether CEO Cautions Against New Crypto Airdrop Scam Emails, Potential Impact on CoinGecko

Tether CEO Cautions Public to Emerging Crypto Airdrop Scam Emails, CoinGecko Possibly Impacted

Crypto News– Cryptocurrency users are being urged to exercise extreme caution following a warning from a leading industry figure about a potential new wave of crypto airdrop scam emails.

Paolo Ardoino, the CEO of Tether, has reported that a well-known email list management provider, heavily utilized by crypto firms, has allegedly been compromised in a data breach. This breach could potentially expose users to these scam emails, increasing the risk of fraud in the crypto community.

While Tether’s CEO has not revealed the name of the company involved in the data breach, he has assured the public that more details will be provided once the investigation is complete.

Not making names yet until investigation is completed, but please beware of any emails suggesting crypto-airdrops received since 24 hours ago.

Paolo Ardoino

CoinGecko Co-Founder Confirms Supply Chain Email Breach

Minutes after Ardoino’s initial warning, the attack was confirmed by a third party: cryptocurrency tracking site CoinGecko. Bobby Ong, the co-founder and chief operating officer of CoinGecko, stated that the breach has impacted a crypto email newsletter vendor utilized by several companies.

Ong warned users that CoinGecko was potentially affected, according to a June 5 X post:

We at CoinGecko may be potentially affected and are actively working with our vendor to investigate further to determine the extent of this breach. We have seen phishing CoinGecko emails being sent from other client accounts. There is no CoinGecko token being planned so don’t be duped by the phishing emails.

Crypto Scams and Hacks Continue to Be a Significant Industry Issue

Crypto scams and hacks remain one of the most pressing concerns within the cryptocurrency industry. In May 2024 alone, over $574 million worth of digital assets were lost in 30 separate crypto hacks, as reported by PeckShield in a June 1 post on X.

Crypto News Today- Tether CEO Cautions Against New Crypto Airdrop Scam Emails, Potential Impact on CoinGecko

The $574 million lost in May represents a staggering increase of approximately 666% month-over-month, compared to the $385 million lost to crypto hacks in April.

FAQs

Who is potentially affected by this scam?

Users of various cryptocurrency services, including those who rely on CoinGecko for tracking their digital assets, may be targeted by these scam emails.

What should I do if I receive an airdrop-related email?

Exercise extreme caution. Do not click on any links or provide personal information. Verify the legitimacy of the email by contacting the service provider directly through official channels.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Crypto News Today- Tether CEO Cautions Against New Crypto Airdrop Scam Emails, Potential Impact on CoinGecko

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