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Binance co-founder Changpeng Zhao (CZ) warned about a malicious crypto phishing scheme that uses a fake Trust Wallet website to lure unsuspecting users into connecting their wallets.
CZ shared a warning about a fraudulent website with a fake domain that mimics the popular Trust Wallet website.
Attackers modified the website domain by replacing the “u” with “a” and changing the extension from “.com” to “.cam,” which may trick unsuspecting users who don’t carefully inspect the domain.
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The malicious website tricks users into connecting their crypto wallets in order to review their transfers.
However, the site contains JavaScript code that attempts to scan wallet balances using a backend API in order to prepare transfers to specific wallet addresses.
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The attacker’s setup works with multiple well-known crypto wallets such as Trust Wallet, Phantom, and OKX Wallet.
CZ’s warning comes shortly after a surge in crypto phishing attempts against wallet users.
On Nov. 3, cybersecurity firm Bitdefender announced that scammers had started using the recent Binance security breach to spread fake emails impersonating Trust Wallet.
The phishing emails suggested that Trust Wallet users were also impacted by the Binance security breach. Therefore, they instructed users to perform a mandatory wallet verification procedure.
The email messages warned that users would be suspended after Nov. 7 if they did not complete the wallet verification process.
Bitdefender said that the phishing scheme affected users in multiple countries, including the United States, United Kingdom, Australia, Ireland and South Africa.
The phishing messages led users to fake verification websites where their wallet credentials or recovery data could be leaked.
Earlier this year, cybersecurity analysts from CYFIRMA spotted another phishing attack against Trust Wallet users. The attackers used malicious QR codes on Telegram to target Trust Wallet users.
