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Crypto firms on alert after Tether CEO Paolo Ardoino warns of email list breach

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Crypto firms on alert after Tether CEO Paolo Ardoino warns of email list breach

The crypto industry faces phishing threat after potential email vendor hack.

Paolo Ardoino, the CEO of stablecoin issuer Tether, warned on June 5 about a potential security breach involving an unnamed crypto mailing list provider.

In a post on the social media platform X (formerly Twitter), Ardoino stated that his firm had received two independent confirmations suggesting a prominent vendor responsible for managing mailing lists for crypto companies might have been compromised.

While Ardoino did not provide specific details about the breach, he implied that it could be a supply chain attack targeting the crypto industry. A supply chain attack is a type of cyber attack that exploits third-party services or tools that the targeted entity or individual relies upon, serving as an indirect means of infiltration.

Ardoino cautioned users to be wary of any emails promising crypto airdrops within the past 24 hours, as they might be part of the attack.

Following Ardoino’s warning, several crypto-related firms promptly alerted their users about the potential threat of phishing links that might be shared in the emails.

Coingecko alerts community

Bobby Ong, the co-founder and COO of CoinGecko, acknowledged the ongoing supply chain email breach attack involving an email newsletter vendor, stating that several crypto companies might be affected through email blasts promoting fake token launches.

Ong advised users not to click on any links related to a fraudulent CoinGecko token as the platform has no plans for such a launch. He added:

“We at CoinGecko may be potentially affected and are actively working with our vendor to investigate further to determine the extent of this breach. We have seen phishing CoinGecko emails being sent from other client accounts. There is no CoinGecko token being planned so don’t be duped by the phishing emails.”

CoinGecko also posted an official warning on its social media account, clarifying that it is a neutral entity without any officially issued coins or tokens and advising users to be cautious of phishing links claiming to offer a “CGL token airdrop.”

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