July 13, 2024

Rise To Thrive

Investing guide, latest news & videos!

Gate.io users at risk as scammers fake giveaway on hacked Twitter account

1 min read
Gate.io users at risk as scammers fake giveaway on hacked Twitter account

Hackers took over the official Twitter account of crypto exchange Gate.io, putting over 1 million users at risk of losing funds to an ongoing fraudulent Tether (

The United States Federal Bureau of Investigation (FBI) recently warned that crypto ATMs are gaining popularity among scammers to receive funds from victims.

According to the FBI, wire transfers, prepaid cards and crypto ATMs are being used by scammers to avoid being tracked by law enforcement:

“Many victims report being directed to make wire transfers to overseas accounts or purchase large amounts of prepaid cards. The use of cryptocurrency and cryptocurrency ATMs is also an emerging method of payment. Individual losses related to these schemes ranged from tens of thousands to millions of dollars.”

As victims agree to pay up, the scammers ask victims to pay taxes over the original amount, “causing them (investors) to lose additional funds.”