Potential Email Vendor Breach Puts Crypto Companies On Alert

Zinger Key Points
  • Ardoino hinted at a likely supply chain attack on the crypto industry but withheld specific names pending further investigation.
  • Previous email breaches in the crypto industry include incidents involving The Sandbox, Nansen, Celsius, OpenSea and Ledger.

Tether CEO Paolo Ardoino on Wednesday cautioned that a well-known email newsletter vendor used by numerous cryptocurrency firms might have been compromised.

What Happened: “We received now two independent confirmations that a prominent vendor used by crypto companies to manage mailing lists might have been compromised,” he said on his X profile.

Ardoino speculated that this could be a supply chain attack targeting the crypto industry, advising, “Not making names yet until investigation is completed, but please beware of any emails suggesting crypto-airdrops received since 24h ago.”

Minutes after Ardoino’s warning, CoinGecko co-founder and COO Bobby Ong corroborated the concern.

Ong highlighted that multiple crypto firms might be impacted by fraudulent email blasts promoting fake token launches.

He urged the crypto community to exercise caution with crypto-related newsletters in the upcoming days.

“We at CoinGecko may be potentially affected and are actively working with our vendor to investigate further to determine the extent of this breach,” Ong stated.

Benzinga future of digital assets conference

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He emphasized, “There is no CoinGecko token being planned so don’t be duped by the phishing emails.”

Email-related breaches are a recurring issue in the cryptocurrency sector.

Last year, the blockchain-based metaverse company The Sandbox alerted users about a security breach exploited for an email phishing campaign.

Other notable firms like Nansen, Celsius, OpenSea, and Ledger have also faced similar attacks in recent years.

What’s Next: As the crypto industry continues to grapple with security challenges, the upcoming Benzinga Future of Digital Assets event on Nov. 19 will be crucial.

Read Next: Bitcoin Spot ETFs Record $887M Inflow On Wednesday, Second-Highest Ever

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