Safepal Hardware Wallet Users Receive Fake Security Alerts in the Mail

Safepal customers in Italy are reportedly being targeted by a sophisticated phishing campaign involving fraudulent letters containing personalized QR codes and false firmware security warnings. Italian customers of cryptocurrency hardware wallet maker Safepal are reportedly receiving fraudulent letters at their home addresses as part of an elaborate phishing campaign linked to a previous customer data breach. The letters falsely warn recipients of a critical security vulnerability in their Safepal devices’ firmware. To make the scam more convincing, the letters include personalized QR codes and accurate customer details, including recipients’ full names, home addresses and specific order information. The phishing campaign comes amid a recent surge in cyberattacks targeting hardware wallet makers, including Trezor, Ledger and Coldcard.

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