Crypto Regulation Used as Bait in Phishing Schemes

Crypto scammers are preying on the latest trend in the space, regulation. The US Internal Revenue Service (IRS) has issued a warning about falsified letters targeting crypto holders, while Senator Lummis' X account was hacked for meme coin shilling.

The IRS alert comes after reports of fake letters from the agency circulating online. These scammers are using the narrative of regulation to spread malicious schemes and trick unsuspecting victims into revealing sensitive information or sending them money.

Senator Lummis, a well-known advocate for cryptocurrency, fell victim to this scam when his X account was hacked and used to promote meme coins.