As phishing scams grow more advanced and widespread in the crypto world, prominent exchange platform Millionero has issued an urgent warning to users worldwide. The message is clear: trust no unsolicited message, even if it appears to come from the top.
Speaking from KINGSTOWN, Saint Vincent and the Grenadines, on June 30, 2025, Millionero CEO Syed Suleman Kazim delivered a rare and personal appeal, urging the global crypto community to remain vigilant. “We’ve seen spoofed emails, fake Telegram groups, and even fraudulent messages pretending to be from me personally,” Kazim revealed in a statement. “That’s why we’re speaking up now to protect our users before it’s too late.”
Spoofed Identities and False Promises
Phishing scams are not new to the digital world, but their recent evolution poses a particularly dangerous threat to the crypto industry. Unlike generic spam campaigns of the past, today’s attackers use convincing impersonations to exploit trust. Cybercriminals are now replicating the digital identities of well-known companies and executives, complete with cloned websites, fake group chats, and misleading links to trick users into revealing sensitive data.
Millionero, a trusted name in spot and perpetual trading, has witnessed a sharp uptick in such activity targeting its user base. According to the company, scammers have fabricated entire online ecosystems designed to mimic the exchange’s brand presence. Fake profiles, message threads, and forged communications are being used to phish for user credentials, especially passwords, 2FA codes, and wallet seed phrases.
“Assume It’s a Scam”: CEO Issues a Personal Warning
In an unusual move, Kazim issued a direct message to the Millionero community in an effort to kerb rising panic and prevent financial loss.
“I, Syed Suleman Kazim, will never contact you via email, WhatsApp, Telegram, or any other channel to request your account information, passwords, seed phrases, or 2FA codes,” he stated unequivocally. “No Millionero employee will ever do this. If you receive such a message, assume it’s a scam.”
The CEO’s warning underscores the emotional and financial toll that phishing scams can take on unsuspecting users, who often fall victim after believing they are speaking to a trusted authority.
The Cost of Trusting the Wrong Message
Phishing in the crypto space is particularly dangerous because once digital assets are transferred or credentials are leaked, recovery is often impossible. Unlike traditional banking systems, most cryptocurrency transactions are irreversible. Scammers exploit this fact, capitalising on the irreversible nature of blockchain technology to steal funds without a trace.
What makes this wave of scams especially potent is the careful design of the attacks. Victims are not simply handed poorly written spam messages. Instead, they encounter well-crafted messages in familiar formats, often with official-looking branding and technical language.
How Millionero Plans to Educate and Protect Users
While the company’s platform remains secure, Millionero is doubling down on user education to prevent scams from succeeding outside of its control. The exchange is urging users to verify every communication independently and to rely only on its official website and authenticated support channels for assistance.
Millionero has also reiterated its security policy: no employee will ever initiate contact asking for personal or account information. The platform encourages users to report any suspicious communication immediately so that appropriate action can be taken.
Staying Safe in the Age of Digital Deception
In 2025, cybersecurity isn’t just a concern for IT professionals; it’s a personal responsibility for anyone involved in digital finance. Kazim’s warning serves as a reminder that users must be their own first line of defence.
Crypto investors are advised to use strong, unique passwords, enable two-factor authentication (2FA), avoid clicking unknown links, and never share seed phrases with anyone, even if the request seems to come from a trusted source.
As phishing schemes grow more elaborate, exchanges like Millionero are calling for a collective defence: stronger user habits, sharper awareness, and a healthy dose of scepticism.
In Kazim’s words: “If you’re ever unsure, assume it’s a scam and double-check with our official support team before taking any action.”
The message is clear. In the decentralised world of crypto, the only safe click is an informed one.
