As Lumens (XLM) Crypto Scams Become More Popular, Stellar Development Foundation Warns The Public

Stellar Lumens News Update – The Stellar organization has warned its users against phishing scams aimed at Lumens (XLM) users. Two scam domains were first noticed by a Reddit user along the lines of xn-stellar-5db.org and stellardrop.org. The scam domains are redirecting to a website with the URL, stełlar.org and share the same link, https://www.stellar.org/blog/third-lumen-distribution.

The URL (stełlar.org) of the scam website looks extremely similar to the URL (stellar.org) for the official Stellar Organization. An unsuspecting user may not notice the difference. However, the eagle-eyed Reddit user was able to spot the difference and even notice the letter “l” with stroke, ł where font type and size made the foreign character barely noticeable.

Stellar News Today – Risk of Losing Funds to a Fake Stellar Accounts

The three scam links redirect users who click on them to a fake Stellar Account Viewer. Users that enter their Secret Key into the fake Viewer, immediately lose their funds. Users can avoid this scam if they manually type the domain name into the browsers to make sure that they are on the real website. It is crucial to prevent the risk posed by such a clever scam.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$13,008.72
stellar
Stellar
$0.083

The Stellar Organization posted a notice warning users of the scam. In the notice, users were informed that the organization will never ask them for their private keys or ask them to deposit funds to a wallet address. Besides, the notice also stated that the Stellar Organization is not holding XLM giveaways. It further warned users to check all URLs. Besides, the organization has completed its Lumen giveaway.

Users were advised to report any suspected fraudulent activity to a specified link. They were also linked to the Stellar security guide to receive more information on how to avoid scammers in the crypto space. Stellar’s imposters may be dangerous phishers who may have other intentions besides stealing the users’ funds. The scammers may collect your private keys and information to steal your identity, lumens, other cryptocurrencies and other accounts.

A Twitter user revealed that many scam advertisements are seen on Facebook. The user suggested that the organization should take the issue up with the social media platform. Recently, Stellar imposters were also spotted on Reddit, Telegram, LinkedIn, Slack, and even emails. Due to its commitment to protecting its users, the Stellar team has given instructions on how to safely access the organization’s official website.

Users are to type the link, https://www.stellar.org/ directly into the address bar of the browser and then bookmark the site. They should visit the site only via the bookmark. Besides, it is important to check the entire URL before you enter any personal information. Also, make sure that the letters of the URL are not altered or any of them replaced with an uppercase.

The Stellar team also informed users that they will first receive email from @stellar.org domain if there is a need to enter private data. The users will reply to the email and wait for a response before sending any private information. This measure will help to ensure that a scammer isn’t impersonating a @stellar.org email account. However, users can tweet the Stellar organization (@StellarOrg) when in doubt of any communication with the Stellar team via email.

Besides, official announcements concerning the organization are on its website and Twitter. Any reposted announcement on any platform should include a link to the original information on Stellar’s website. Authentic information is only posted on Stellar’s website.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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