Kraken CSO Warns of Scam Emails Posing as Exchange

Key Highlights

• Kraken CSO warns of fake emails targeting users.
• Scam uses urgent language and fake deadlines.
• Victims asked to install apps for “support”.

Kraken’s Chief Security Officer (CSO), Nick Percoco, has warned the crypto community about a clever phishing scam that is being operated in the name of the exchange. In this scam, the scammers are pretending to reach out from the exchange, to trick people into giving up their personal information. The warning has spread quickly online and this incident shows how scams are getting smarter and more common in the crypto space. Users are being urged to stay alert and protect their digital assets.

Nick Percoco highlights the new phishing scam that is being carried out in the name of Kraken

Details of the Scam

Nick Percoco, the Chief Security Officer at Kraken, has warned that the scammers have been sending fake emails pretending to be from Kraken. The logo used in the phishing email looks exactly the same, the font used in the phishing emails are the same, and links used are also very similar.

By copying all of this, the main aim of the scammers is to trick innocent users into clicking on a link and accepting fake “updated terms” to keep using their Kraken account. The email even adds pressure by saying users have only “two days left” to act, which is a common trick used by scammers to rush people into making a mistake.

Malicious Tactics exposed

Percoco further warned that one of the most dangerous parts of this scam is that it asked people to install a remote desktop software like AnyDesk. The scammers said that this was for claiming the platform’s support if the need be. If any email from exchange support requests you to download such apps, it is a red flag. All of this is very risky because if innocent users download it, the scammers can easily take control of the computer and steal crypto very easily. The scammers can also access personal information, and account details as well.

It is important to know that Kraken’s official support team will never ask anyone to install AnyDesk or any remote access tool. If you get such a request, it is a clear sign that it’s a scam.

Official Advice from Kraken

As stated by Nick Percoco, users should take the following steps to protect themselves:

• Always check the sender’s email address and verify if the email is from the platform’s legitimate website or support.
• Never click on suspicious links or download software at the request of alleged support staff.
• Be careful with emails that try to scare you or say your account will be blocked if you do not act quickly.
• If you are unsure, always reach out to the support centre of the exchange from the official website.

Other Phishing Scams

Kraken is not the first crypto exchange to deal with such phishing scams. Big names such as Binance, Coinbase, and Bitfinex have also faced very similar attackers. In these cases, scammers pretended to be from the support team of the exchanges to trick users into giving away their personal information or installing harmful software.

For example, Binance in early 2018 was also hit by a phishing scam. Scammers built a fake website that looked like binance.com to steal users’ log in details. This led to strange trading activity and Binance had to stop withdrawals for a while.

On the other hand, between 2021 and 2023, scammers made fake sites like “CoinbasePro.com” to trick users into giving away their login info and 2-step verification codes. The scammers stole around $20 million before getting caught in late 2023. Moreover, in 2024, users reported getting fake calls and texts pretending to be from Coinbase. These messages warned about account problems and asked users to press numbers or click links, which led to stolen personal info.

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