Avoid getting scammed by fake "Trust Wallet - New Security Alert" emails
Written by Tomas Meskauskas on (updated)
What kind of email is "Trust Wallet - New Security Alert"?
After investigating this "Trust Wallet - New Security Alert" email, we determined that it is fake. This is a phishing email targeting cryptowallet log-in credentials. This spam message claims that the recipient must change their wallet recovery phrase as part of a security upgrade.
It must be stressed that the information in this email is false, and this mail is in no way associated with Trust Wallet or any other legitimate products or entities.
"Trust Wallet - New Security Alert" email scam overview
The spam email with the subject "Your Wallet Requires Urgent Verification Thursday, September 26, 2024 7:48 a.m." (may vary) informs of a routine security check and upgrade, during which the recipient's cryptowallet recovery phrase was changed. The recipient is still using their old log-in credentials – hence, they must revalidate their wallet to avoid potential digital asset loss.
It must be emphasized that the claims made by this email are false, and this mail is not associated with the real Trust Wallet or any other genuine products or entities.
This email endorses a phishing site, and it even states that if the recipient is having trouble accessing the webpage – they can simply email the sender their wallet passphrase. The promoted site is presented as a Trust Wallet page, instructing the visitor to provide their recovery phrase. Phishing websites record entered information and send it to scammers. Hence, by trusting this webpage – users expose their digital wallets to scammers.
It must be mentioned that due to the practically untraceable nature of cryptocurrency transactions – they cannot be reversed. Therefore, victims who have lost their digital assets to scams like "Trust Wallet - New Security Alert" cannot retrieve them.
| Name | "Trust Wallet - New Security Alert" phishing email |
| Threat Type | Phishing, Scam, Social Engineering, Fraud |
| Fake Claim | Recipient must revalidate their cryptowallet by changing its recovery phrase. |
| Disguise | Trust Wallet |
| Related Domains | walletrecoveryphrase[.]com |
| Detection Names | Seclookup (Malicious), alphaMountain.ai (Suspicious), CyRadar (Suspicious), Fortinet (Spam), Trustwave (Suspicious), Full List Of Detections (VirusTotal) |
| Serving IP Address | 172.67.178.189 |
| Symptoms | Unauthorized online purchases, changed online account passwords, identity theft, illegal access of the computer. |
| Distribution methods | Deceptive emails, rogue online pop-up ads, search engine poisoning techniques, misspelled domains. |
| Damage | Loss of sensitive private information, monetary loss, identity theft. |
| Malware Removal (Windows) | To eliminate possible malware infections, scan your computer with legitimate antivirus software. Our security researchers recommend using Combo Cleaner. |
Phishing spam campaign and crypto-specific scam examples
We have written about countless spam campaigns and cryptocurrency-centered scams; "Beneficiary Of Will", "Adobe - You Have Received New Files", "HelpDesk Password Confirmation" – are just a couple examples of the former, and "Solana Giveaway", "Smart Node Chain", "BLAST GARDEN" – of the latter.
Various scams are endorsed through spam mail and on the Web. Crypto-specific schemes tend to operate in one of three ways – by phishing for wallet log-in credentials, utilizing draining mechanisms to siphon funds from exposed wallets, and tricking users into manually transferring assets to scammer-owned wallets.
Due to how prevalent spam mail and online scams are and how well-made they can be – we highly recommend exercising caution with incoming emails/messages and when browsing.
How do spam campaigns infect computers?
Spam campaigns are commonly used in malware distribution. These emails/messages can include malicious files as attachments or download links. They come in various formats, e.g., archives (RAR, ZIP, etc.), executables (.exe, .run, etc.), documents (Microsoft Office, Microsoft OneNote, PDF, etc.), JavaScript, and so on.
Merely opening an infectious file can be enough to trigger malware download/installation. However, some formats require additional actions to initiate system infection processes. For example, Microsoft Office files need users to enable macro commands (i.e., editing/content), while OneNote documents require them to click embedded links or files.
How to avoid installation of malware?
Incoming emails, DMs/PMs, SMSes, and other messages must be approached carefully. Attachments or links found in suspicious/irrelevant mail must not be opened, as they can be harmful or virulent.
However, malware is not proliferated exclusively via spam mail. Therefore, we recommend being vigilant when browsing since the Internet is rife with well-disguised fraudulent and malicious content.
Additionally, all downloads must be made from official and trustworthy channels. Another recommendation is to activate and update programs using legitimate functions/tools, as illegal activation ("cracking") tools and third-party updates can contain malware.
We must stress the importance of having a dependable anti-virus installed and kept updated. Security software must be used to perform regular system scans and to remove detected threats and issues. If you've already opened malicious attachments, we recommend running a scan with Combo Cleaner Antivirus for Windows to automatically eliminate infiltrated malware.
Text presented in the "Trust Wallet - New Security Alert" spam email letter:
Subject: Your Wallet Requires Urgent Verification Thursday, September 26, 2024 7:48 a.m.
Trust
NEW SECURITY ALERT
Dear ********,
Your 12 or 24-word private wallet phrase has recently been updated as part of our routine security checks and upgrades.
You are currently using your old private wallet phrase.
To send or receive cryptocurrency, you must re-validate your wallet.
Please click the *Re-validate My Wallet* link below and enter your old 12 or 24-word private wallet phrase on the next page.
If you encounter any issues with the link, you can alternatively reply to this email with your old 12 or 24-word private wallet phrase, and we will re-validate your wallet.
Note: Failure to do this within twenty-four (24) hours may result in the potential loss of all your crypto assets.
Re-Validate My Wallet
Customers ID: 01-83B7291O3AU
Email Date: (9/26/2024 7:48:52 a.m.)
Best Regards,
Trust Wallet Inc.
Screenshot of the phishing website promoted by the "Trust Wallet - New Security Alert" spam campaign:
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Quick menu:
- What is "Trust Wallet - New Security Alert" phishing email?
- Types of malicious emails.
- How to spot a malicious email?
- What to do if you fell for an email scam?
Types of malicious emails:
Phishing Emails
Most commonly, cybercriminals use deceptive emails to trick Internet users into giving away their sensitive private information, for example, login information for various online services, email accounts, or online banking information.
Such attacks are called phishing. In a phishing attack, cybercriminals usually send an email message with some popular service logo (for example, Microsoft, DHL, Amazon, Netflix), create urgency (wrong shipping address, expired password, etc.), and place a link which they hope their potential victims will click on.
After clicking the link presented in such email message, victims are redirected to a fake website that looks identical or extremely similar to the original one. Victims are then asked to enter their password, credit card details, or some other information that gets stolen by cybercriminals.
Emails with Malicious Attachments
Another popular attack vector is email spam with malicious attachments that infect users' computers with malware. Malicious attachments usually carry trojans that are capable of stealing passwords, banking information, and other sensitive information.
In such attacks, cybercriminals' main goal is to trick their potential victims into opening an infected email attachment. To achieve this goal, email messages usually talk about recently received invoices, faxes, or voice messages.
If a potential victim falls for the lure and opens the attachment, their computers get infected, and cybercriminals can collect a lot of sensitive information.
While it's a more complicated method to steal personal information (spam filters and antivirus programs usually detect such attempts), if successful, cybercriminals can get a much wider array of data and can collect information for a long period of time.
Sextortion Emails
This is a type of phishing. In this case, users receive an email claiming that a cybercriminal could access the webcam of the potential victim and has a video recording of one's masturbation.
To get rid of the video, victims are asked to pay a ransom (usually using Bitcoin or another cryptocurrency). Nevertheless, all of these claims are false - users who receive such emails should ignore and delete them.
How to spot a malicious email?
While cyber criminals try to make their lure emails look trustworthy, here are some things that you should look for when trying to spot a phishing email:
- Check the sender's ("from") email address: Hover your mouse over the "from" address and check if it's legitimate. For example, if you received an email from Microsoft, be sure to check if the email address is @microsoft.com and not something suspicious like @m1crosoft.com, @microsfot.com, @account-security-noreply.com, etc.
- Check for generic greetings: If the greeting in the email is "Dear user", "Dear @youremail.com", "Dear valued customer", this should raise suspiciousness. Most commonly, companies call you by your name. Lack of this information could signal a phishing attempt.
- Check the links in the email: Hover your mouse over the link presented in the email, if the link that appears seems suspicious, don't click it. For example, if you received an email from Microsoft and the link in the email shows that it will go to firebasestorage.googleapis.com/v0... you shouldn't trust it. It's best not to click any links in the emails but to visit the company website that sent you the email in the first place.
- Don't blindly trust email attachments: Most commonly, legitimate companies will ask you to log in to their website and to view any documents there; if you received an email with an attachment, it's a good idea to scan it with an antivirus application. Infected email attachments are a common attack vector used by cybercriminals.
To minimise the risk of opening phishing and malicious emails we recommend using Combo Cleaner Antivirus for Windows.
Example of a spam email:
What to do if you fell for an email scam?
- If you clicked on a link in a phishing email and entered your password - be sure to change your password as soon as possible. Usually, cybercriminals collect stolen credentials and then sell them to other groups that use them for malicious purposes. If you change your password in a timely manner, there's a chance that criminals won't have enough time to do any damage.
- If you entered your credit card information - contact your bank as soon as possible and explain the situation. There's a good chance that you will need to cancel your compromised credit card and get a new one.
- If you see any signs of identity theft - you should immediately contact the Federal Trade Commission. This institution will collect information about your situation and create a personal recovery plan.
- If you opened a malicious attachment - your computer is probably infected, you should scan it with a reputable antivirus application. For this purpose, we recommend using Combo Cleaner Antivirus for Windows.
- Help other Internet users - report phishing emails to Anti-Phishing Working Group, FBI’s Internet Crime Complaint Center, National Fraud Information Center and U.S. Department of Justice.
Frequently Asked Questions (FAQ)
Why did I receive this email?
Spam emails are not personal, regardless of any relevant details that they may include. These messages are sent out in large-scale campaigns – hence, thousands of users receive identical or incredibly similar emails.
I have provided my personal information when tricked by this spam email, what should I do?
If you have provided your log-in credentials – change the passwords/passphrases of all potentially compromised accounts and inform their official support without delay. And if you've disclosed other private information (e.g., ID card details, credit card numbers, etc.) – immediately contact relevant authorities.
I have read a spam email but didn't open the attachment, is my computer infected?
No, opening/reading an email is harmless. Systems are infected when malicious attachments or links are opened/clicked.
I have downloaded and opened a file attached to a spam email, is my computer infected?
Whether the device was infected might depend on the format of the opened file. Executables (.exe, .run, etc.) cause infections almost without fail (once opened). Some other formats – like documents (.doc, .xls, .pdf, etc.) – might need additional user interaction to initiate malware download/installation. Therefore, the infection is only triggered after macro commands are enabled, embedded content is clicked, or other actions are performed.
Will Combo Cleaner remove malware infections present in email attachments?
Yes, Combo Cleaner is designed to scan computers and eliminate all kinds of threats. It can detect and remove most of the known malware infections. Keep in mind that performing a complete system scan is essential since sophisticated malicious software usually hides deep within systems.
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