Scam awareness: Phishing and impersonation emails targeting BTC Markets clients

Scammers are becoming more sophisticated, with recent attempts involving fake emails impersonating BTC Markets. These phishing messages aim to steal two-factor authentication (2FA) codes or trick clients into confirming fake withdrawals.

This update expands on our earlier blog, Scam alert: How impersonation scams work, to highlight the latest tactics and how to stay protected.

It’s important to know what to look out for and what BTC Markets will never ask you to do.

How these scams work

1. Fake emails that look official

Scammers send emails using our branding, subject lines like “Withdrawal Processed” or “Verify Your Identity,” and even add fake transaction details. 

Example: This fake email requested a 6-digit code from an authenticator app. BTC Markets will never ask for 2FA codes via email.

Example: This phishing attempt claimed a withdrawal was processed and included a suspicious blockchain link.

Example: Scammers often send multiple emails in quick succession to create panic and urgency.

2. Follow-up messages

Victims may also receive phone calls or texts pretending to be BTC Markets (or their email provider’s) support to reinforce the email’s claims.

3. The ask
Scammers pressure users to share 2FA codes, passwords, or to move funds off platform. Once these details are shared, funds can be stolen instantly.

What BTC Markets will never do

BTC Markets will never:

• Ask you for your 2FA codes over email.
• Ask you to move your funds off the platform.
• Request your passwords or seed phrases.
• Ask you to install remote access software.

If you see any of these, stop immediately.

How to protect yourself

• Check the sender's address carefully. Scammers often use look-alike domains.
• Never reply with 2FA codes or passwords.
• Go direct: Log in via our official app or website if you’re unsure.
• Report suspicious messages: Submit a support ticket via the BTC Markets app or website.

If you think you’ve been targeted, stop all communication immediately and avoid providing any details. Report the incident to BTC Markets through our official support portal, and lodge a report at scamwatch.gov.au.

Stay alert. Stay secure.

BTC Markets will never ask you for personal details by email. If in doubt, contact us directly through our verified support channels.

Disclaimer: The information provided on this page is issued by BTC Markets Pty Ltd (BTC Markets, we, us, our). The information is general only and is not intended to constitute an opinion or recommendation with respect to its contents. Past performance is not a reliable indicator of future performance. Any reference to past performance is intended to be for general illustrative purposes only. The information cannot be relied upon for any purposes and is not intended to be a substitute for professional advice.

The information does not purport to be complete, accurate or contain all of the information that a person may require to make a decision. It may also contain forward looking statements, which are subject to known and unknown risks, uncertainties, and other factors. We recommend you obtain professional advice before making any decision with respect to the matters discussed in this document. To the maximum extent permitted by law, BTC Markets will have no liability for any loss or liability of any kind: (i) arising in respect of the information contained (or not contained) on this page; or (ii) arising from a person relying on any information or statement contained on this page. The information provided is only intended for recipients in Australia. This information cannot be reproduced without our prior written permission.