There has been an alarming development in the cryptocurrency market. A major vendor that manages email lists for various cryptocurrency companies has been hacked. This data leak led to the spread of fraudulent emails promising cryptocurrency airdrops, revealing sensitive information. This seriously threatens the security and trust in the cryptocurrency market, as the leaked data can be used by malicious people.
Cryptocurrency concern: Reaction and suggestions from Tether CEO
Tether CEO Paolo Ardoino confirmed that they had received two independent confirmations that a key vendor used by cryptocurrency companies to manage their email lists was likely hacked. While Ardoino refrained from naming the supplier until the investigation was completed, it warned users to be extremely careful against such cryptocurrency scams.
“Do not trust any emails offering cryptocurrency distribution received in the last 24 hours,” Ardoino said. He emphasized the importance of being skeptical of all incoming emails and advised avoiding clicking on links or downloading attachments from unknown sources. Tether leadership is taking proactive steps to mitigate the risks posed by this data leak and advocating for higher security protocols across the industry.
Wide impact and preventive measures
Updates on the matter from CoinGecko co-founder Bobby Ong revealed that there is an ongoing supply chain email breach attack affecting an email newsletter provider. Several cryptocurrency companies may be affected by these fraudulent email attacks promoting fake token launches. Ong took the situation seriously and warned users to be especially careful with email newsletters in the coming days.
CoinGecko, one of the potentially affected organizations, is investigating the extent of the data leak along with its suppliers. Ong reported that phishing emails spoofing CoinGecko communications were being sent from other customer accounts and warned users that no CoinGecko tokens were planned. This serves as a cautionary reminder to all cryptocurrency companies to review and strengthen their email security practices to protect their users from similar threats.
Tether’s new investment
Besides all these developments, crypto asset company Tether, known for its USDT stablecoin, announced a strategic investment of $ 18.75 million in XREX Group and the launch of a new stablecoin unit called XAU1. According to the company’s press release, the collaboration aims to improve cross-border business-to-business (B2B) payments and innovate the crypto-asset industry and “regulation technology.”
In addition to the $18.75 million investment, XREX will launch the XAU1 in collaboration with the Unitas Foundation. XAU1 is a unit-denominated stablecoin pegged to the US dollar, over-collateralized by Tether gold (XAUt), which provides a stable alternative and hedge against inflation, according to the press release
To be instantly informed about the latest developments, contact us twitter‘in, Facebookin And InstagramFollow on and Telegram And YouTube Join our channel!