Recent PayPal and MetaMask emails urging users to enter their account details quickly come from fraudsters, the US Federal Trade Commission (FTC) warns.
A recent wave of emails urging users to act quickly “or else” come from scammers, praying on unsuspecting users via a web of phishing scams.
Scammers have leveraged user angst about money. According to the FTC, the fraudulent email claims users will have their MetaMask cryptocurrency wallets blocked.
Meanwhile, others are being targeted with fake emails impersonating PayPal, saying their payments to Binance, a crypto exchange, have been canceled.
“Most unexpected emails saying to act quickly, click a link, or call a number are phishing scams. They may look like they come from companies you know, but they’re from scammers who want you to think the message is real,” the FTC warned.
The commission urged users to stay vigilant, advising them to slow down and think carefully before revealing their sensitive data. Remember, legitimate businesses will rarely, if ever, demand that users urgently provide personal details.
Users are also instructed to avoid clicking on links that often accompany unexpected text messages and emails. Shady links often lead to honeypot websites that scammers have set up or other sites that distribute malware.
According to blockchain analysis firm Chainalysis, crypto-based scams were a $6 billion business last year and cybercrooks are unlikely to reduce their efforts. Always be extra cautious about any investing platform or anyone you meet online.
The Cybernews research team has recently identified several scams, with victims losing hundreds of thousands of dollars. Others go as far as impersonating celebrities to trick victims into parting with their hard-earned savings.
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