Stellar Warns Users About XLM Crypto Scams

There have been a lot of reports lately in the crypto space, and Stellar has posted an important notice for users.

They issued a warning to users against the phishing scams. Crypto enthusiasts are aware of the fact that phishing scams have proliferated a lot, and they also aim XLM users.

This warning comes at a time when the crypto space has fallen a lot and the coins are trading in the red.

At the moment of writing this article, XLM is trading in the green, and the coin is priced at $0.068918.

Scammers are sharing a fake link

Smartereum noted that “A Reddit user was the first to take note of the issue. The user noticed two scam domains on the lines of the stellardrop.org as well as the xn--stelar-5db.org. Both were redirecting users to another website that uses the URL stełlar.org. Scammers are sharing this link a fake link.”

The online publication notes that this malicious domain is similar to the authentic one: stellar.org which is the official link for the Stellar Organization.

They also note that as a result of the risks that come from cyber criminals, the Stellar organization took action.

Here’s the notice that they posted in order to warn users:

IMPORTANT: SDF will NEVER ask for your private keys. SDF isn’t holding XLM giveaways. We will NEVER ask you to make any fund deposits to any particular wallet addresses. Check all URLs moving forward!

Stellar mobile wallet launched on iOS

In other news, the Stellar-based decentralized exchange StellarX has launched on Android a while ago, and it has now also rolled out the mobile wallet on iOS as well.

StellarX is giving users the ability to send euros, pounds, yuan, dollars, and more fiat currencies via ACH transactions that can be traded for crypto.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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