How scammers target gullible people

Cryptocurrency scammers have developed a new tactic in… Blockchain space Where the potential users of crime are the victims. The scam, which was primarily identified on YouTube, involves comments created to lure users with initial phrases into wallets containing thousands of dollars in cryptocurrency.

How cryptocurrency scams exploit seed phrases to lure victims

The process seems easy to perform but in reality it is not simple. These hackers consider themselves skilled traders pretending to be beginners trying to find a way to trade from portfolios with large volumes of currencies. stablecoins Like USDT in the Tron blockchain. They even reveal the initial phrase of the wallet so that all the undesirables are tempted to grab the wallet.

Inside the store, the “lucky” thief finds a wallet worth up to $8,000, but to withdraw the money a small amount of money must be paid. TRON (TRX) It is paid as gas fees collected in the network. When a thief wants to send TRX to the wallet, all his tokens are transferred to another wallet owned by the fraudsters.

Understanding the TRX Gas Fee Trap: A New Scam Tactic

This is another sophisticated trap associated with the use of multi-signature wallets which require multiple approvals for outgoing transactions. The gullible thief simply tries to withdraw the money and the poor man ends up making the scammers richer.

Kaspersky, the cybersecurity company; He said The operation was a sting operation targeting unethical people, not “cryptocurrency users.”

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Tips to stay safe

Although individually this may result in relatively small losses per incident, the overall process shows that cryptocurrency scams are becoming increasingly more sophisticated, using mechanisms inherent in the blockchain combined with psychological tricks to encourage and reward unethical behavior.

Cybersecurity specialists advise cryptocurrency users interested in digital assets to refrain from using unknown seed phrases and generally not interact with wallets owned by strangers.