“We Need Your Confirmation to Keep Your Trust Wallet Secure” Scam Exposed

Written by: Thomas Orsolya

Published on:

Trust Wallet has become one of the most popular cryptocurrency wallets in recent years. Its ease of use and focus on security has made it a go-to choice for many crypto investors. However, its growing user base has also caught the attention of scammers looking to steal users’ funds. One common scam involves emails posing as Trust Wallet and asking for sensitive account information in order to “verify” the account. But don’t be fooled – this is just a phishing attempt aimed at draining your wallet.

TrustWallet Scam 1

Scam Overview

The “We Need Your Confirmation to Keep Your Trust Wallet Secure” phishing scam starts with an email that appears to come from Trust Wallet. The email’s subject line says “We Need Your Confirmation to Keep Your Trust Wallet Secure” and the body contains text explaining that a “verification” process is needed for security reasons.

This is completely false. Trust Wallet would never proactively email users asking for account details or to click on an external link for “verification” purposes. The email includes a “Verify My Wallet” button which leads to a fake phishing site at a domain like “trustwalletc.vip.”

The phishing site is designed to mimic the look and feel of the real Trust Wallet site. It will have logos, colors, and navigation links to try and trick users into thinking it’s legitimate. On the phishing site, users are prompted to enter their 12 or 24-word secret recovery phrase. Entering this phrase would give the scammers full access to steal all funds in the compromised wallet.

Trust 2 scam 1

Some red flags that indicate the site is fake:

  • The domain name is slightly different than the real trustwallet.com site. Scammers often rely on typo squatting or using similar looking domains.
  • There are spelling, grammar errors, or other typos throughout the site. Real companies thoroughly proofread and edit official comms.
  • Pressure tactics demanding immediate action like threats to lock accounts or restrict access. Real companies give reasonable timelines.

This scam preys on users’ fears of being hacked and desire to keep their funds safe. But Trust Wallet would never demand account details over email in this way. Avoid clicking links in unsolicited emails and be wary of communications asking for sensitive information.

How the Scam Works

Here are the detailed steps of how the “We Need Your Confirmation” Trust Wallet scam operates:

  1. The scammer sets up a phishing email and fake website mimicking Trust Wallet’s branding.
  2. Users receive an email claiming to be from Trust Wallet with the subject “We Need Your Confirmation to Keep Your Trust Wallet Secure.”
  3. The email body explains that due to “security enhancements” all users must complete an account verification process within 24 hours. It threatens that failure to comply may result in restricted wallet access.
  4. There is a prominent “Verify My Wallet” button in the email that links to the fake phishing site.
  5. On the phishing site, users see Trust Wallet branding and messaging urging them to verify their identity and account.
  6. The site prompts users to enter their 12 or 24-word secret recovery phrase, claiming this is necessary to “verify wallet ownership.”
  7. If users enter their full recovery phrase, the scammers now have full access to steal their funds. The users’ wallets are compromised.
  8. Within minutes or hours, the scammers will drain the wallet by transferring all funds to wallets they control.
  9. By the time the users realize they’ve been scammed, all their cryptocurrency has been stolen from their wallets. There is no way to recover it.
  10. The scammers walk away with the stolen crypto assets, which can be quickly laundered and cashed out through various methods.

As you can see, the anatomy of this scam is quite simple but highly effective at tricking less security-savvy users. The key to avoid becoming a victim is being able to spot the red flags of a phishing attempt and never entering password or recovery phrase information on an unverified site.

What to Do If You’re a Victim

If you unfortunately fell victim and entered your recovery phrase into a phishing site, here are the steps you should take:

  1. Check your wallet immediately and transfer any remaining funds to a new wallet with a fresh recovery phrase that only you control. Act quickly before the scammers drain everything.
  2. Contact Trust Wallet support via email to notify them your account was compromised. Provide details like your wallet address, transaction hashes, and suspected phishing site.
  3. Report the phishing site to hosting providers, registrars, or authorities to try and get it taken down before it scams others.
  4. Change your email password if the scammers could have accessed your inbox. Enable two-factor authentication if possible.
  5. Monitor your wallet address on blockchain explorers to see if the scammers try to move stolen funds later on. Notify exchanges if you see activity.
  6. If sizable funds were lost, consult an attorney about legal options in your jurisdiction. Phishing victims have sometimes received compensation via class action lawsuits.
  7. Learn from this experience. Be vigilant about checking site URLs, hovering over links, and looking for email sender discrepancies. Never enter your phrase anywhere but the official wallet app.

Frequently Asked Questions

What is the “We Need Your Confirmation” Trust Wallet scam?

This is a phishing scam where users receive a fake email claiming to be from Trust Wallet asking them to “confirm” their account for security purposes. The email includes a link to a fake website that prompts users to enter their wallet recovery phrase, which allows scammers to steal funds.

How do I recognize a phishing email or website?

Red flags include slight differences in domains like “trustwalletc.vip,” spelling/grammar errors, threats to lock accounts, and any request for your recovery phrase or passwords. Real companies will never ask for these over email.

I entered my recovery phrase. What should I do?

Immediately transfer any remaining funds to a brand new wallet with a fresh recovery phrase that only you control. Then contact Trust Wallet support and report the phishing site. Monitor your compromised wallet address for any activity.

How do scammers profit from this?

By gaining users’ recovery phrases, the scammers can access and drain cryptocurrency wallets. They quickly launder and cash out the stolen crypto.

How can I stay safe from phishing scams in the future?

Never enter your recovery phrase anywhere except the official Trust Wallet app. Carefully check the sender name and URLs in emails. Hover over links to verify destinations. Enable two-factor authentication as an extra layer of security.

Can I get my stolen cryptocurrency back if I was scammed?

Unfortunately, most likely not. The decentralized nature of crypto means transactions cannot be reversed. But you can report the scam to try stopping the criminals, monitor your wallet address, and consult an attorney about potential legal options.

Is Trust Wallet doing anything to stop these scams?

Trust Wallet continuously monitors and tries to shut down phishing sites impersonating their brand. They also advise users on how to identify and avoid scams through blogs and community forums. But users should remain vigilant as new scams constantly emerge.

How can I securely verify if communications from Trust Wallet are real?

Trust Wallet will never proactively email you and ask for sensitive information. If you receive any communications claiming to be from Trust Wallet and want to verify authenticity, contact their official support channels like the contact email on their website – never use the contact info within the suspicious email itself.

The Bottom Line

The “We Need Your Confirmation” Trust Wallet phishing scam can be highly convincing but ultimately relies on tricking users into giving up their recovery phrase. With the rise of crypto scams, education is the best defense. Understanding common warning signs like unusual login procedures, threats of account lockouts, and pressure tactics can help the community stay safer. As Trust Wallet continues to expand, users should stay skeptical of unsolicited communications and verify links before providing any sensitive account details.

How to Stay Safe Online

Here are 10 basic security tips to help you avoid malware and protect your device:

  1. Use a good antivirus and keep it up-to-date.

    Shield Guide

    It's essential to use a good quality antivirus and keep it up-to-date to stay ahead of the latest cyber threats. We are huge fans of Malwarebytes Premium and use it on all of our devices, including Windows and Mac computers as well as our mobile devices. Malwarebytes sits beside your traditional antivirus, filling in any gaps in its defenses, and providing extra protection against sneakier security threats.

  2. Keep software and operating systems up-to-date.

    updates-guide

    Keep your operating system and apps up to date. Whenever an update is released for your device, download and install it right away. These updates often include security fixes, vulnerability patches, and other necessary maintenance.

  3. Be careful when installing programs and apps.

    install guide

    Pay close attention to installation screens and license agreements when installing software. Custom or advanced installation options will often disclose any third-party software that is also being installed. Take great care in every stage of the process and make sure you know what it is you're agreeing to before you click "Next."

  4. Install an ad blocker.

    Ad Blocker

    Use a browser-based content blocker, like AdGuard. Content blockers help stop malicious ads, Trojans, phishing, and other undesirable content that an antivirus product alone may not stop.

  5. Be careful what you download.

    Trojan Horse

    A top goal of cybercriminals is to trick you into downloading malware—programs or apps that carry malware or try to steal information. This malware can be disguised as an app: anything from a popular game to something that checks traffic or the weather.

  6. Be alert for people trying to trick you.

    warning sign

    Whether it's your email, phone, messenger, or other applications, always be alert and on guard for someone trying to trick you into clicking on links or replying to messages. Remember that it's easy to spoof phone numbers, so a familiar name or number doesn't make messages more trustworthy.

  7. Back up your data.

    backup sign

    Back up your data frequently and check that your backup data can be restored. You can do this manually on an external HDD/USB stick, or automatically using backup software. This is also the best way to counter ransomware. Never connect the backup drive to a computer if you suspect that the computer is infected with malware.

  8. Choose strong passwords.

    lock sign

    Use strong and unique passwords for each of your accounts. Avoid using personal information or easily guessable words in your passwords. Enable two-factor authentication (2FA) on your accounts whenever possible.

  9. Be careful where you click.

    cursor sign

    Be cautious when clicking on links or downloading attachments from unknown sources. These could potentially contain malware or phishing scams.

  10. Don't use pirated software.

    Shady Guide

    Avoid using Peer-to-Peer (P2P) file-sharing programs, keygens, cracks, and other pirated software that can often compromise your data, privacy, or both.

To avoid potential dangers on the internet, it's important to follow these 10 basic safety rules. By doing so, you can protect yourself from many of the unpleasant surprises that can arise when using the web.

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