Gate.io Users Are At Risk Due To A False Ad On A Compromised Twitter Account
The fraudulent website aggressively advertises a fictitious giveaway of 500,000 USDT and requests that visitors link their wallets (like MetaMask) in order to get the incentives.
Over a million customers of the cryptocurrency exchange Gate.io were at danger of losing money due to an ongoing scam involving a Tether giveaway after hackers seized control of the company’s official Twitter account.
The most efficient way to connect with the cryptocurrency community is via the social media site Twitter. As a consequence, the practise of using verified accounts’ official Twitter names to spread frauds is becoming more popular.
Unknown hackers grabbed control of Gate.io’s Twitter account and changed the URL of the website from Gate.io to gte.com, a fake exchange-impersonating website.
The fraudulent website aggressively advertises a fictitious giveaway of 500,000 USDT and requests that visitors link their wallets (like MetaMask) in order to get the incentives. The moment a person links their wallet to the fraudulent website, the hackers have access to their current cash and may start draining their assets.
As it identified the phishing website and warned users about the possibility of losing private keys, the blockchain investigator Peckshield also verified the assault was still active.
The Federal Bureau of Investigation (FBI) of the United States has issued a warning that fraudsters are increasingly using cryptocurrency ATMs to collect money from victims.
According to the FBI, con artists utilise wire transfers, prepaid cards, and crypto ATMs to evade law enforcement:
“Many victims report being directed to make wire transfers to overseas accounts or purchase large amounts of prepaid cards. The use of cryptocurrency and cryptocurrency ATMs is also an emerging method of payment. Individual losses related to these schemes ranged from tens of thousands to millions of dollars.”
