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Do not trust emails asking you to confirm your Trust Wallet recovery phrase

Also Known As: TrustWallet phishing email
Damage level: Medium

What is kind of email is "TrustWallet"?

After inspecting this "TrustWallet" email, we determined that it is spam that operates as a phishing scam. Letters of this spam campaign are presented as alerts regarding the imminent suspension of recipients' "TrustWallets" - to prevent which the log-in credentials have to be re-verified.

It must be emphasized that these emails are fake, and they are in no way associated with the real Trust Wallet cryptocurrency wallet.

TrustWallet email spam campaign

"TrustWallet" email scam overview

The spam email with the subject "wallet suspension alert" (may vary) inform the recipient that irregular activity has been detected within their "TrustWallet". Hence, the recipient is asked to verify their ownership of the digital wallet, as new updates regarding NFTs mean that unverified wallets will be suspended 24 hours after the owner is notified.

As mentioned in the introduction, this notification is fake. Therefore, when the "CONFIRM RECOVERY PHRASE" button is pressed, it results in a redirect to a phishing site. This page is nearly identical to the legitimate Trust Wallet website.

The deceptive webpage requests the visitor to enter their email address (where they wish to receive the security code), wallet recovery phrase, and complete the CAPTCHA verification. If tricked by this website, victims will unintentionally expose their Trust Wallet credentials to the scammers behind this spam campaign.

With said information in their possession, the cyber criminals can gain access to the compromised wallet and gain control over the funds stored therein.

If you have already provided your credentials - immediately change them and contact Trust Wallet's official support.

Threat Summary:
Name TrustWallet phishing email
Threat Type Phishing, Scam, Social Engineering, Fraud
Fake Claim Recipient's Trust Wallet will be suspended unless its ownership is re-verified.
Disguise Trust Wallet
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)

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Phishing spam campaign examples

We have analyzed thousands of spam emails; "A Law Case Filed Against Your Company", "Login Session Authentication", and "M&T Bank email scam" are merely a few examples of phishing letters.

This mail is usually presented as "urgent", "important", "priority", and similar; it can even be disguised as notifications/messages from legitimate companies, institutions, organizations, authorities, or other entities. In addition to scams, spam emails are also used to proliferate trojans, ransomware, cryptominers, and other malware.

How do spam campaigns infect computers?

Spam emails can contain infectious files as attachments or download links. These files can be archives (RAR, ZIP, etc.), executables (.exe, .run, etc.), Microsoft Office and PDF documents, JavaScript, and so on.

When a virulent file is executed, run, or otherwise opened - malware download/installation is jumpstarted. For example, Microsoft Office documents infect systems by executing malicious macro commands.

How to avoid installation of malware?

We strongly advise being cautious with incoming mail. The attachments and links found in suspect/irrelevant emails and messages - must not be opened since that can result in a system infection. It is essential to use Microsoft Office versions released after 2010, as they have the "Protected View" mode that prevents automatic macro execution.

However, malware is not proliferated exclusively via spam mail. Therefore, we also recommend downloading only from official/verified sources and activating/updating software with legitimate tools (as illegal activation tools ["cracks"] and third-party updaters may contain malware).

We must stress the importance of having a reputable anti-virus installed and kept up-to-date. Security programs must be used to run regular system scans and to remove detected threats. 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 "TrustWallet" scam email letter:

Subject:  wallet suspension alert


TrustWallet

 

Dear User,

 
Our system shows some irregular activities in your wallet                  
which requires immediate verification of ownership, to secure          
your wallet verification can be done via the page below.                    


Due to new updates on NFTs, unverified wallets will be suspended.     
within 24hours of receiving this alert. We're sorry for any inconvenience.     
We might have caused, but please keep in mind that our intention         
is to keep our customers safe and happy.                                           


CONFIRM RECOVERY PHRASE


 We're sorry for the inconvenience and thank you for using TRUST WALLET.


TRUST WALLET Support 2022.

Screenshot of the phishing website promoted by the "TrustWallet" spam campaign:

TrustWallet scam email promoted phishing site

Another example of TrustWallet-themed spam email promoting a phishing site:

TrustWallet-themed spam email (2022-11-17)

Text presented within:

Subject: TRUSTWALLET ACCOUNT VERIFICATION IS REQUIRED


TRUSTWALLET
Dear Customer,

Our system has detected some unusual activity in your wallet that requires quick ownership confirmation. To secure your wallet, please complete the form on the page below.

I appreciate your patience and understanding.

Secure Wallet

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Quick menu:

Types of malicious emails:

Phishing email icon 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.

Email-virus icon 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 email icon 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:

Example of an email spam

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?

This mail is not personal. Cyber criminals distribute these letters in mass-scale campaigns; hence, thousands of users receive identical emails.

I have provided my personal information when tricked by this spam email, what should I do?

If you have provided account credentials - immediately change the passwords/passphrases/recovery-phrases of all potentially exposed accounts and inform their official support. And if you have disclosed other private data (e.g., ID card details, credit card numbers, etc.) - contact the corresponding authorities without delay.

I have read a spam email but didn't open the attachment, is my computer infected?

No, merely opening a spam email will not initiate any malware download/installation processes. Systems are infected when the attachments or links found in spam mail are opened/clicked.

I have downloaded and opened a file attached to a spam email, is my computer infected?

If the opened file was an executable (.exe, .run, etc.) - yes, your system was most likely infected. However, document formats (.doc, .xls, .pdf, etc.) may require additional user interaction (e.g., enabling macro commands) to initiate malware download/installation processes.

Will Combo Cleaner remove malware infections present in email attachments?

Yes, Combo Cleaner can detect and eliminate nearly all known malware infections. It must be emphasized that since sophisticated malicious software usually hides deep within systems - running a complete system scan is essential.

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About the author:

Tomas Meskauskas

Tomas Meskauskas - expert security researcher, professional malware analyst.

I am passionate about computer security and technology. I have an experience of over 10 years working in various companies related to computer technical issue solving and Internet security. I have been working as an author and editor for pcrisk.com since 2010. Follow me on Twitter and LinkedIn to stay informed about the latest online security threats. Contact Tomas Meskauskas.

PCrisk security portal is brought by a company RCS LT. Joined forces of security researchers help educate computer users about the latest online security threats. More information about the company RCS LT.

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Malware activity

Global malware activity level today:

Medium threat activity

Increased attack rate of infections detected within the last 24 hours.

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