Substack Newsletters Are Being Used to Spread Crypto Scams

When it comes to the “next big thing” for independent platforms, the newsletter platform Substack has been at the forefront of the charge. The company has lured big-name independent writers such as Casey Newton and Glenn Greenwald to the platform to start their own newsletters.

Substack is now also being leveraged for its ease of use and reach by scammers to impersonate various cryptocurrency projects, encouraging those it reaches to “upgrade their smart contracts” and send funds to a proxy contract ID.

The language across multiple newsletter emails was similar, just plugging in and playing with different project names, suggesting they had a similar origin.

"Gnosis was alerted to the phishing attempt on Substack via Twitter, as we were one of many popular blockchain projects targeted,” said Gnosis Director of Strategy Kei Kreutler in a direct message. “We immediately contacted Substack and they took down the fraudulent account.”

The scam impersonating Gnosis has already been seemingly successful to some extent though, with at least one responder to the Gnosis tweet admitting to being a victim and sending tokens to this proxy. Another expressed surprise that Gnosis wasn’t the one sending these emails after receiving one.

https://mickaelmosse.com/substack-newsletters-are-being-used-to-spread-crypto-scams-mickael-mosse/