Blockstream Sounds Alarm on Fake Phishing Email Scam

Blockstream Warns Users About Phishing Email Scam: Details

Blockstream, a leading infrastructure and hardware wallet provider, has warned against a phishing email scam targeting Jade hardware wallet users. The platform urged clients to stay vigilant, asserting that it never sends firmware files via email.

Blockstream Phishing Attack: Details

Earlier today, Blockstream took to X to direct the community’s attention to a phishing email scam that targets Jade hardware wallet users. While the company asks customers to stay alert, it assures that no data has been compromised. The platform wrote on an X post, “Our systems were not compromised.”

Bitcoin developer Jimmy Song was among the first to flag the malicious emails, which masquerade as Jade firmware updates and trick users into downloading files from dubious domains. He said, “You guys should warn people about this phishing email. I'm guessing the firmware sends funds to some other address.”

The scam messages, which seemingly originate from unrelated sources like restaurant managers, raise concerns about how attackers accessed the email addresses of potential victims.

Notably, this alert comes during a significant rise in crypto phishing attacks. Losses in August reached $12 million. Over 15,000 victims were affected, marking a shocking 67% increase from July. These exploits trick users by placing harmful links in messages that look legitimate, claiming to come from well-known crypto companies. Their goal is to steal sensitive information.

Among the major incidents in August were the Venus Protocol and Binance scams. According to Coin Gabbar, the Venus Protocol attack resulted in a massive loss of $13.5 million in wrapped Bitcoin (BTCB), vUSDT, vUSDC, vXRP, and vETH.However, soon, the BNB Chain-linked lending firm announced the successful recovery of the stolen tokens.

In another similar incident, a Binance user lost $91 billion in Bitcoin to a sophisticated social engineering attack. In response to the increasing attacks targeting Binance customers, CEO Richard Teng issued a warning that read,

 “Ring, ring! Could be a scam. We've seen a new scam: fake support calls trying to get you to change your API. Remember, we'll never ask for your passwords or credentials over the phone.” 

In the first half of 2025, cryptocurrency users lost over $3.1 billion to scams and hacks. This amount is a significant increase from 2024. This rise shows that the threats in the cryptocurrency space are growing. Scams and hacking incidents are becoming more advanced.