WazirX Hack: Phishing Scams Target Users With Fake Compensation Emails

Following the hack, users have been targeted by a wave of phishing attacks. Scammers are taking advantage of the chaos by sending fake compensation emails purporting to be from WazirX.

After the hack, users have become the target of a wave of phishing attacks. Scammers are exploiting the chaos by sending fake compensation emails, purporting to be from WazirX.

These emails appear official and acknowledge the security breach while promising reimbursement. They mention the issuance of a new token, WZA, to be airdropped to affected users. It states that the procedure will start in 30 days.

The mail reads, “On July 18, 2024, our platform experienced a significant cyber attack that resulted in the loss of over $230 million in various cryptocurrencies. Despite our robust security measures, attackers managed to exploit a vulnerability in our multi-sig wallet, causing this unfortunate incident. We deeply regret any inconvenience and concern this may have caused you.”

However, these emails are part of a sophisticated phishing attempt that aims to trick consumers into clicking on harmful links or disclosing personal information.

WazirX has also highlighted several measures to counter phishing scams. The exchange has been actively trying to curb the menace caused by these phishing attempts and brought attention to the rise of scam bots posing as its official accounts in a statement.

“It has come to our notice that scam bots are impersonating our official WazirX accounts and sharing fake links. We strongly recommend double-checking the username and verified badge of any account that appears to be WazirX,” said the statement.

Following a large-scale attack on popular cryptocurrency exchange WazirX, CoinDCX CEO Sumit Gupta has issued a strong warning to the crypto community regarding fake compensation emails.

Taking to X (formerly Twitter), Gupta cautioned users against fake emails and stressed the importance of verifying the authenticity of any communication from WazirX.

On July 18, 2024, WazirX reported the theft of $230 million in several cryptocurrencies, including Ethereum, Pepe Coin, Polygon (MATIC), Shiba Inu, and PEPE, from its exchange.

In his warning, Gupta advised users to double-check the sender's email address and the authenticity of the website link, and to cross-verify details from trusted sources before taking any further action. Gupta's warning included the hashtag #WazirX, which gained traction as users shared their experiences and tips for avoiding scams.

Users are encouraged to avoid clicking on links from unverified sources and to use the official WazirX website and support channels for any queries regarding the recent hack and compensation plan. Scam Sniffer also warns against fake WazirX accounts and phishing sites, highlighting that hacks present an opportunity for scammers to strike.

Also Read: WazirX Hack: Rival Indian Exchanges Say Investor Money is Safe

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