As the cryptocurrency lender Celsius Network approaches the final stages of its insolvency proceedings, reports have emerged regarding a new wave of phishing attacks targeting its creditors.
Over the past week, various social media reports have highlighted an increase in phishing attacks where scammers impersonate Stretto, the insolvency services platform responsible for managing the Celsius Network's bankruptcy and its creditors.
One user reported receiving three phishing emails on September 18, all claiming to be from Celsius. Other reports mentioned fake emails containing malicious links that attempted to impersonate Stretto, the claims attorney handling bankruptcy cases. These phishing attempts often involve altering the URL slightly to create a fake website that prompts users to connect their wallets, thereby enabling scammers to steal crypto assets.
As Celsius Network's bankruptcy proceedings move closer to their conclusion, analysts and business managers expect phishing attacks to become more frequent. To protect themselves, users are advised to exercise caution and carefully verify the legitimacy of links they receive.
In mid-August, Celsius obtained authorization to send ballots to its clients for voting on the proposed settlement. Scammers have taken advantage of this situation to intensify phishing attacks, especially around voting deadlines. Simon Dixon, CEO and co-founder of the online investment platform BnkToTheFuture, noted that the final vote took place on September 18, the report's release was scheduled for September 20, and a confirmation hearing is set for September 29.
Celsius Network intends to seek the court's final approval for its restructuring plan on October 2. It's important to note that the phishing attacks seem to have originated from previous data breaches, including one in April 2021 that exposed user details and led to malicious emails being sent to affected users.
Celsius customers have been awaiting compensation since the cryptocurrency lender suspended withdrawals in June 2022 following the collapse of the Terra ecosystem. The company subsequently filed for bankruptcy the following month.
