Fake Patreon Accounts Used to Promote Malicious Crypto Projects: “New Crypto Scam”

The crypto community is on high alert as a phishing scam targets Patreon users with fraudulent crypto airdrops. Vigilance urged.
Fake Patreon Accounts Used to Promote Malicious Crypto Projects New Crypto Scam

Concerns regarding a spate of phishing emails with cryptocurrency themes that seem to come from the content creator site Patreon are being voiced by cryptocurrency users. Social media reports, such as X, indicate that scammers have been using the email addresses of cryptocurrency users to register for Patreon accounts and add them to fictitious email lists linked to fraudulent cryptocurrency projects on the platform.

On January 23, reports of these phishing attempts started to surface. The victims were tricked into believing that Patreon producers, posing as well-known cryptocurrency projects like Chainlink, Solana, and Manta Network, were offering fake airdrops.

In response to complaints from the community, Patreon Support confirmed the problem on January 25 and blamed it on a fraudulent claim made by a cryptocurrency account posing as a Patreon creator, as well as a “email verification problem.” Users were reassured by the platform that impacted accounts were being fixed.

The phony emails were a part of a scheme to get unauthorized access to customers’ cryptocurrency wallets, according to a screenshot of a Patreon email. Although Patreon stated that the issue had been fixed, a few individuals reported in the days that followed getting fraudulent emails.

The cryptocurrency community is still skeptical despite the platform’s efforts; one Reddit user reported getting several shady emails regarding a “Manta” airdrop. The event demonstrates the ongoing danger of scams aimed against bitcoin owners. More than 300,000 cryptocurrency users fell for these scams in 2023, losing over $500 million in total.

The incident highlights the necessity for caution in the cryptocurrency ecosystem to ward off scam efforts and the significance of proactive security measures taken by Patreon and other platforms.

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