Scammers promote fake Gate.io giveaway on hacked Twitter account 

The official Twitter account of crypto exchange Gate.io was hacked. Scammers now advertise a fake giveaway of 500,000 USDT 

scammers giveaway

Scammers promote fake Gate.io giveaway on hacked Twitter account. Source: pexels.com

As reported by Cointelegraph, a fake website is claiming Cate.io exchange conducts a 500,000 USDT giveaway. Scammers ask users to connect their crypto wallets to claim the rewards. Thus, over 1 million users are now at risk of losing funds. 

Hackers changed the website URL from Gate.io to gąte.com (https://xn--gte-ipa.com/). The embedded phishing link steals users’ private keys. Once a user connects their wallet to the fake website, impersonators will gain access to their existing funds and may steal all the assets. 

Therefore, investors are advised to cross-check the website URLs of Gate.io and other crypto trading platforms to ensure the legitimacy of the offerings. In addition, the FBI recently warned that crypto ATMs are gaining popularity among scammers. Individual losses related to these schemes range from tens of thousands to millions of dollars.

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