Watch out for scam emails on April 1

Scammers appear to be taking advantage of April Fool’s Day, don’t let them take advantage of you.

If you’re a crypto-user and have an account with Gemini, you may have received an email claiming that Gemini has filed for bankruptcy protection. The email then states that you must withdraw your assets by April 15, 2025, and that they’ve partnered with Exodus Wallet to “to facilitate secure withdrawal.”

Here’s content from the email:

Dear Gemini User,

We are writing to inform you that, as of March 31, 2025, Gemini Trust Company, LLC has filed for Chapter 11 bankruptcy protection the the United States Bankruptcy Court. This step follows a significant financial setback caused by a security breach at a third-party custodial service we relied on, resulting in substantial losses. We regret the impact this has on our users and are committed to helping you secure your assets during this process.

The email is a scam. A very good scam. One that I fear will trick many into following the withdrawal instructions.

If you have a Gemini account and received the scam email, delete it. If you clicked on any of the email links or started the withdrawal process, log in to your Gemini account, change your password, and confirm your assets are there. I’d also recommend confirming your account contact information is correct and current.

Validate or Eliminate

Scams like this one are reminders to use the Validate or Eliminate process when faced with emails, calls, texts, or letters. Take a few minutes to attempt to validate the information in the email. If you’re unable to validate it, delete, or validate it.

Column provided by the Kerskie Group