Wallets offline Bitcoin.com warns scams
Cryptocurrencies

Wallets offline, Bitcoin.com warns of scams

The leading digital wallet provider said a data center fire had made accounts inaccessible, and warned customers to be wary of phishing scammers posing as customer support

Blockchain.com has warned customers to avoid phishing scams claiming to be from its customer support after an outage that has had its wallet out of service since around 5 a.m. EST.

The blockchain explorer, wallet and exchange said that a fire at one of its data centers caused the outage, adding “[r]est assured that funds are secure and we’re working to restore access as soon as possible.”

The exchange is not affected, a note of Blockchain.com’s status page added. Around 10:30 a.m. it reported an elevated level of API errors.

As for the scammers, Blockchain.com Support’s Twitter account warned: 

“Whilst we work to resolve this access issue please remain vigilant. @AskBlockchain is our ONLY Support Account. DO NOT accept help or assistance from any other account, this includes fake forms & website links.”­­­

It’s not the first time Blockchain.com Support has had to warn about scammers posing as customer support personnel. The posts below today’s message that customer funds are secure despite the outage were scam warnings from early March.

The March 1 post shouted “SCAM ALERT”  and warned the company does not provide support on Google Forms, and that its only official accounts were @Blockchain and the support account @AskBlockchain.

On March 3, the Blockchain.com Support Twitter account added: “If you Tweet us for help and someone random replies with a link or website … SCAM ALERT.”

It added that any such account should be blocked immediately and reported to @TwitterSupport and @TwitterSafety.

Crypto phishing scams are the bane of the industry’s Twitter life. In July, a huge Twitter hack led to Bitcoin giveaway scams from accounts including then-candidate Joe Biden. And in April, Ripple and CEO Brad Garlinghouse sued Twitter, claiming it ignored concerns about giveaway scams

On Feb. 17, Blockchain.com raised a $120 funding round from investors including Louis Bacon, Kyle Bass, Access Industries, Lightspeed Venture Partners, and GV—Google Ventures among others.

In a Medium post announcing the investments, CEO Peter Smith said that the company has grown to 65 million wallets from customers in more than 200 countries since launching in 2014, and claimed that “28% of all Bitcoin transactions since 2012 have occurred via Blockchain.com.”

He also highlighted the changing nature of the bitcoin market, saying that Blockchain.com’s “Institutional Markets business is growing exponentially, and while the Wallet remains the core of our business, our Institutional business is now significant enough to cover the entire operating cost of the business globally while also delivering additional operating profits.”

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Leo Jakobson, Modern Consensus editor-in-chief, is a New York-based journalist who has traveled the world writing about incentive travel. He has also covered consumer and employee engagement, small business, the East Coast side of the Internet boom and bust, and New York City crime, nightlife, and politics. Disclosure: Jakobson has put some 401k money into Grayscale Bitcoin Trust.