David Schwartz, the CEO of Ripple, has warned about a new cryptocurrency scam. This time, the scam targets individuals who utilize the popular name service Unstoppable Domains. The scam tells people they can get a “$UDOM” code in an offer that looks like it’s real.
Schwartz, post on X, informed people about the warning by linking to a post by Arijit, who had found the fake email that was going around.
Users of Unstoppable Domains received an email stating that the “$UDOM” token was available and instructing them to click on a link to obtain their tokens. However, Arijit and Schwartz clarified that the company never said that.
Crypto Phishing Alert
One of the major players in the blockchain domain space, Unstoppable Domains, has stayed strong even though public action has slowed down in recent months. A fake promise of a new utility token made some users hopeful, but Arijit’s post quickly disproved the claim.
Schwartz confirmed the hacking attempt and warned users that clicking on the link in the email would take them to a fake website that is meant to steal their personal information. At first, some in the crypto community dismissed the warning as part of a running joke, but it didn’t take long to reiterate the dangers of phishing scams.
Scammers have been after the crypto area for a long time, and as the industry changes quickly, these schemes are getting smarter. Schwartz and other well-known crypto figures, like Brad Garlinghouse, CEO of Ripple, have told users many times to stay alert because fraud methods are always changing.
More and more, scammers are using people pretending to be well-known stars in the cryptocurrency world to trick investors. As deepfake technology spreads, some con artists are now using AI to make their fake identities look more real. There are even more scams to fight now.
Even though the crypto market as a whole is going down, the latest phishing attempt involving Unstoppable Domains shows that scammers are still around. It’s important to be careful to avoid these scams, as Schwartz’s post shows.
