WazirX Hack: Users Targeted by Wave of Phishing Attacks as Scammers Promise Fake Compensation

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

After a hack at WazirX, a leading cryptocurrency exchange, users are being targeted by a wave of phishing attacks.

Scammers are taking advantage of the chaos by sending fake compensation emails that appear to be from WazirX. These emails acknowledge the security breach and promise reimbursement, mentioning the issuance of a new token, WZA, that will be airdropped to affected users. The mail states, “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 phishing attempt to trick consumers into clicking on harmful links or disclosing personal information.

WazirX has also drawn attention to several efforts to address phishing scams. The group has been actively attempting to lessen the harm brought about by these phishing efforts to address the problem. The group 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 WazirX.

Following a big attack at WazirX, CoinDCX CEO Sumit Gupta has warned the crypto community about fake compensation emails with a stark warning.

Gupta took to X (formerly Twitter) to caution users against fake emails and highlighted the importance of verifying the authenticity of any communication from WazirX. On July 18, 2024, WazirX led to the theft of $230 million worth of several cryptocurrencies, including Ethereum, Pepe Coin, Pepe Coin, Polygon (MATIC), Shiba Inu, and PEPE.

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

Users are urged to avoid links from unverified sources and use the official WazirX website and support channels for inquiries on the recent hack and compensation plan. Scam Sniffer also warns against fake WazirX accounts and phishing sites, noting that hacks are opportunities for scammers to strike.

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