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Shocking Malware Campaign Hijacks Email Lists to Spread Fake Crypto Wallets

Malware Campaign Targets Trusted Email Platforms

A new and dangerous malware campaign, known as PoisonSeed, has been discovered by cybersecurity experts. This sneaky scam is tricking people into handing over their crypto wallet information by using hacked email mailing lists. It’s a clever and alarming technique because it preys on the trust people have in emails from well-known platforms.

Here’s how the attack begins. The hackers first break into accounts of people who use popular email services like Mailchimp and SendGrid. These are platforms many businesses and content creators use to send newsletters to their subscribers. Once inside, the hackers quickly download all the mailing lists associated with these accounts. This means they now have access to thousands, or even millions, of email addresses—belonging to people who have signed up for trusted newsletters.

To get into these accounts, the hackers create fake login pages that look exactly like the real Mailchimp or SendGrid websites. These fake websites are so well made, it’s hard to tell the difference. Victims receive an urgent email saying there’s a problem with their account. Scared they might lose access to their tools, some users enter their passwords on the fake site—giving the hackers full control.

Fake Crypto Emails Trick Subscribers

Once the hackers have the mailing lists, they move to the next phase of the attack. They send emails to all the subscribers on these lists. The emails pretend to be from trusted crypto companies, like Coinbase. They say that the company is moving to a new kind of wallet—a self-custodial wallet.

The email then provides a 12-word seed phrase and tells the recipient to enter it into their crypto account. A seed phrase is like a secret key that gives full access to a crypto wallet. But here’s the trick: anyone who enters that phrase into a real wallet is not getting a new wallet—they’re giving hackers full access to their existing one.

In simple words, it’s like someone gives you a new key and tells you to use it in your front door. But that key was made by a thief, and the moment you use it, you’ve actually handed over the keys to your house.

People who believe the email and enter the fake seed phrase can have their entire crypto balance stolen in seconds. And because these emails come from real, trusted newsletters they’ve subscribed to in the past, many don’t even think twice before clicking.

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Smart and Subtle Phishing Tactics

What makes PoisonSeed especially dangerous is how clever it is. These emails don’t shout or scream warnings. They don’t use scary words like “Account Suspended” or “You’re in Danger.” Instead, they use a soft touch. They create just enough worry to make people act quickly, without thinking deeply.

The fake login pages used by the attackers are almost impossible to tell apart from the real ones. They use the same design, logos, and even links. This makes it much easier for victims to fall for the scam.

The campaign appears to be very organized and fast. As soon as a hacker gains access to a mailing list, they start sending out the fake Coinbase messages in bulk. Everything is likely automated, which means thousands of phishing emails can be sent out in minutes.

This campaign shows how online threats are evolving. It’s not just regular users who need to be careful—creators and businesses with mailing lists also need to stay alert. When their accounts are hacked, it’s their followers who pay the price.

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Renuka Bangale
Renuka is a distinguished Chartered Accountant and a Certified Digital Threats Analyst from Riskpro, renowned for her expertise in cybersecurity. With a deep understanding of cybercrimes, malware, cyber warfare, and espionage, she has established herself as an authority in the field. Renuka combines her financial acumen with advanced knowledge of digital threats to provide unparalleled insights into the evolving landscape of information security. Her analytical prowess enables her to dissect complex cyber incidents, offering clarity on risks and mitigation strategies. As a key contributor to Newsinterpretation’s information security category, Renuka delivers authoritative articles that educate and inform readers about emerging threats and best practices.

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