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Crypto Scam Alert: Fraudsters Go Offline to Steal Seed Phrases

The new trick is about fake letters, branded as if they’re from Ledger, which deceive recipients by claiming they need to verify their digital wallets to prevent losing money. These letters contain a QR code that directs users to a fraudulent website for phishing purposes.

In a straightforward and conversational manner: Mike Belshe, CEO of BitGo, disclosed the scam upon receiving one of the letters that were mailed via the United States Postal Service. Other users reported similar occurrences, with some labeling it as an “unsettling intensification in phishing methods.

This method is linked to a wider increase in scams aiming at cryptocurrencies. In April 2025, a UK-based gang executed a call-based phishing scheme that resulted in the theft of approximately $300 million worth of Bitcoin from an elderly individual.

Approximately a few weeks ago, Coinbase acknowledged an significant data breach within their organization. It was discovered that unauthorized support personnel, posing as rogues, had leaked sensitive user data to cybercriminals. These criminals then blackmailed the company for a ransom of approximately $20 million.

Although Coinbase stated that no private keys were compromised, critics such as Michael Arrington from TechCrunch expressed concerns that even small amounts of data leaks might put users at risk in terms of their personal safety.

These occurrences signify a concerning evolution in the realm of social engineering, as phishing tactics are not confined solely to email boxes or fraudulent applications – they’re now showing up directly in people’s mailboxes.

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2025-05-25 05:58