- Hackers are using physical mail to target US-based crypto users in a phishing scam.
- The mail sent to targeted victims impersonates the IRS and contains a malicious QR code.
- Crypto users are advised to take precautions and avoid falling into the fake mail trap.
Cryptocurrency holders, particularly those in the US, have been alerted to an ongoing phishing scam by hackers. In a recent report, the IRS issued a warning, telling crypto users to watch out for fake letters impersonating the agency. According to the IRS, the letters contain QR codes designed to harvest wallet credentials and private keys.
A Deceptive Phishing Move by Hackers
The warning, which the IRS officially made public and reinforced in August, involves the use of physical mail. The hackers deploy physical counterfeit letters, increasing the probability that such mail will be mistaken for authentic.
Such fake letters usually claim the target must register their crypto holdings before an urgent deadline. It further instructs the recipient to enroll in a “Digital Asset Compliance Portal,” which the IRS has explicitly stated does not exist.
The highlighted QR code contained in such letters represents the main trap. Scanning it directs users to a highly convincing spoofed website mimicking the official IRS platform. Instructions on the fake site lead targets to connect their crypto wallets or input sensitive data such as personal identity information, exchange login credentials, seed phrases, and private keys.
A Timely Warning by the IRS
Reiterating this warning during a notable crypto market rally is not just coincidental, but a deliberate move to call users’ attention to the dangerous situation at a time when they could be easily distracted. Many crypto users, particularly inexperienced participants, typically become emotional during sudden price surges. Hence, the IRS’ timely warning to maintain awareness of the imminent dangers within the ecosystem.
How to Secure Your Crypto Assets
As a precaution, the agency released strict guidelines to help crypto holders distinguish fake notifications from real tax compliance letters. The IRS stated that it will never include QR codes in unsolicited letters or ask users to scan and access an online portal. It further stated that no government agency or tax official will ever request private keys, seed phrases, or wallet verification from crypto users.
Crypto users are hereby advised to be cautious and handle their wallet details carefully. However, anyone who may have fallen victim is advised to immediately freeze their accounts, change their exchange passwords, and contact the crypto exchange.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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