Cryptocurrency meme coin $TRUMP is the newest target of phishing scams

Phishing scams in the cryptocurrency world are a menace, always lurking, always evolving, and the newest target in their crosshairs is the $TRUMP meme coin.

The world of cryptocurrency has seen its fair share of scams, and one common type of fraud is phishing. Phishing scams in the $TRUMP meme coin are now being targeted by scammers. As President Donald Trump continues to make headlines globally in the political sphere, scammers are looking to capitalize on his popularity.

Those interested in investing in the coin or collecting a piece of memorabilia can buy the $TRUMP meme coin. However, scammers are also trying to deceive both investors and supporters. Cybersecurity analyst Max Gannon and his team at Cofense have uncovered a phishing scam targeting the $TRUMP meme coin.

The scam begins with an email that appears to be from Binance, a cryptocurrency exchange. The email informs the recipient that their account activity has triggered a risk alert. To continue buying, selling, and transferring coins, the user must click on a link to download software. This software is supposedly required to purchase the $TRUMP coins.

The email and the links in it appear to lead to Binance. However, closer inspection reveals that the email address and the landing page are not part of the exchange. The imagery used in the emails and on the download page is also from Binance, but it has been manipulated by scammers.

The aim is to create a seamless experience for users as they transition from the email to the download page and finally to the ConnectWise remote access trojan. This trojan is disguised as software necessary for buying $TRUMP coins.

After about two minutes, the ConnectWise trojan gains full control over the victim’s device. It can then be used to steal passwords for cryptocurrency exchanges and other sensitive information.

The time window from download to full control is about two minutes, during which the user is fully aware of their actions and makes the choice to trust the source.

The takeaway here is that users should be cautious of emails that claim to be from cryptocurrency exchanges, especially if they offer limited-time opportunities to buy coins. They should instead go to the exchange’s official platform to check if such offers exist.

Additionally, if an exchange is performing maintenance or if there are any issues, it will post an announcement on its website and social media pages.

If you receive an email from an exchange, check the sender’s address to make sure it belongs to the exchange. Most importantly, if an email or a link seems suspicious, it probably is.