Scammers are Targeting ADA Holders via Fake Daedalus Wallet

A host of crypto scammers are targeting the users of the Daedalus wallet. The Daedalus wallet is a full node custodian service that allows the users to download the complete copy of the Cardano blockchain. The issue was first highlighted by a Reddit user. It seems that scammers are using Discord to entrap the users.

Discord is a VoIP-based social media service that also offers the option for users to communicate via voice and video calls. Scammers have created a fake account on a Discord server called Cardano official Release. This fake account is posting fake upgrade updates and claims that it is mandatory for all Daedalus wallet users.

Crypto Scammers Issue Fake Updates

The Daedalus wallet by Cardano has been targeted by several scammers over the years. This new scam scheme seems to be well thought out. The scammers are asking the users to click on a fake website that is attached to the upgrade notification. However, the scammers have changed the TLD or Top-level domain.

The user interface for the fake website is the same as the official website. The users who are not careful can easily fall for the said scam and end up downloading the upgrade that contains malware. With this malware, the scammers can gain access to the wallet contents and empty all the holdings without the permission of the real owners.

Many users of Daedalus wallet have fallen victim to the said scam. The crypto scammers are also convincing the susceptible victims that they will be able to convert their digital assets into cash. Some other fake benefits that come with the false upgrade include faster transaction speed and more stability for the users that will secure the wallet from any further security threats. IOHK that is the parent company behind the Cardano network is trying to raise awareness about the said scam. The company also posted warning alerts on its official website. This is not the first time that ADA users are targeted by scammers. At the beginning of 2021, many ADA users lost their holdings due to a fake crypto wallet application on Google Play Store.

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