We need to talk about the sneaky scam that's been making waves on YouTube, as uncovered by the cybersecurity firm Kaspersky. It's a crafty scheme that flips the script on would-be thieves, turning them into victims. Intrigued? Let's break it down.
• The Bait: A Generous Seed Phrase
Imagine scrolling through YouTube, and under a finance-related video, you spot a comment like this:
"I have USDT stored in my wallet, and I have the seed phrase. How do I transfer my funds to another wallet?"
Surprisingly, the seed phrase is right there in the comment for all to see. Now, anyone familiar with crypto knows that sharing your seed phrase publicly is a big no-no. So, what's the deal here?
• The Trap: A Wallet Loaded with USDT
Curiosity piqued, you decide to check out the wallet using the provided seed phrase. Lo and behold, it contains a hefty sum—around $8,000 in USDT (Tether) on the Tron network. Easy money, right? Not so fast.
• The Catch: Multi-Signature Wallets and Disappearing TRX
To move that USDT, you need to pay a small transaction fee in TRX (Tron's cryptocurrency). The wallet, however, doesn't have any TRX to cover this fee. So, you think, "I'll just send some TRX to the wallet to facilitate the transfer." But here's where it gets tricky.
Unbeknownst to you, the wallet is a multi-signature (multi-sig) wallet. This means that any transaction requires approval from multiple parties. When you send your TRX to cover the fees, it doesn't stay in the wallet. Instead, it mysteriously vanishes into another wallet controlled by the scammer. You're left with nothing, and the USDT remains inaccessible.
• The Masterstroke: Scammers Outsmarting Thieves
Kaspersky points out that these scammers pose as crypto newbies, sharing wallet access to lure in unsuspecting individuals looking to make a quick, albeit unethical, profit. In reality, these "thieves" become the victims, losing their TRX to the scammer's cleverly designed trap.
• The Bigger Picture: A Series of Deceptive Comments
This isn't an isolated incident. Multiple new accounts have been spotted posting similar comments, all sharing the same seed phrase. It's a coordinated effort to bait and trap individuals seeking to exploit what appears to be someone else's mistake.
• Why It Works: Low Transaction Fees and Human Greed
The Tron network is known for its low transaction fees, often under $10. This makes it an attractive playground for such scams, as the financial barrier to participate (and subsequently lose) is minimal. The scam primarily targets those looking to make illicit gains rather than sophisticated criminals aiming for large-scale thefts.
• Stay Safe: Don't Take the Bait
This scam serves as a reminder that if something seems too good to be true, it probably is. Always be cautious and ethical in your crypto dealings. Never attempt to access someone else's wallet, even if the seed phrase is handed to you on a silver platter. It's likely a trap designed to part you from your hard-earned crypto.
Stay savvy, stay safe, and keep your crypto secure!
#scamriskwarning #scam #Write2Earn #CryptoETFMania #btc2025

The Pig Butchering scams turned out to be one of the most prevalent threatss in 2024 stealing around $3.6 billion in assets from crypto investors. In a report published by Cyvers, a Web3 security company, it was revealed that these scams mainly tricked the Ethereum blockchain with 150,000 wallet addresses conned across 800,000 transactions.
What are Pig Butchering Scams?
Pig Butchering is an extended and very sophisticated fraud in which the criminals build up close relationships with their targets, and persuade them to invest in various fake cryptocurrency platforms. After making these big investments, they vanish, and the gullible investors end up with nothing.
These schemes include highly targeted investors hence having led to an increase in cyber threats in the crypto industry by 40% this year.

People Aren’t the Only Ones Being Hurt; Firms This Time Suffer From Access Control Hacks
Access control breaches were also to a significant extent behind crypto fraud this year: the share of such incidents was 81% and the financial losses, according to the study. These comprised 41.6% of all the reported cases, but the losses arising from such incidences call for the strengthening of protective modalities against unauthorised access and transfers.
In another report by Chain analysis, digital currency theft rose to $2.2 billion based on 303 incidents in 2024, from $1.8 billion in 2023; North Korean hackers accounted for $1.34 billion in 2024, which was more than double that of 2023.
A major shift materialized to centralized applications instead of DeFi systems, including attacks like Japan’s DMM $BTC ($305m) and Indian WazirX($234.9m). Regarding funds’ redistribution, experienced hackers used mixers and bridges between blockchains for 90% of stolen funds, while the private key’s poor management let the fraudsters steal 43.8% of the money.
The risks are such that they encourage people to adapt to cryptocurrency but also warn them to stay alert, check all the investment offers thoroughly and stay with reliable service providers.
#BinanceSeason #Crypto2025Trends #WazirX #scamriskwarning $ETH

🌐 The Crypto Market in Shock!
In 2024, total Web3 losses exceeded $2.9 billion. From DeFi to metaverses, no sector was spared. 🚨 The main vulnerability? Access control issues, responsible for 78% of all attacks.

💎 DeFi: Fewer losses, but major hacks persist
Losses decreased by 40%, but still reached $474 million. The biggest incident was the hack of Radiant Capital, costing $55 million.

🏦 CeFi in Trouble: Losses Double!
CeFi losses skyrocketed to $694 million. Notable attacks include a key leak at DMM Exchange ($305 million) and a multisignature vulnerability at WazirX ($230 million).

🎮 Games and Metaverses Lose Hundreds of Millions
The gaming sector reported $389 million in losses, accounting for 18% of all attacks. 🎲

🚩 Rug Pulls Shift to Solana
Scammers moved from BNB Chain to Solana, driven by the growing popularity of meme coins. 📈

🎯 Presales Turn into Traps: $122.5 Million Stolen in One Month!
In April 2024, scammers executed 27 fraud schemes using presales. 💰 They also exploited the names of celebrities and influencers to deceive investors.

👨‍💻 Phishing and North Korean Hackers
Phishing attacks led to $600 million in stolen funds, while North Korean hackers siphoned off $1.34 billion.

⚠️ Stay Alert!
Crypto scams are becoming increasingly sophisticated. 🛡️ Behind every meme coin, a trap could be waiting!
#Hack #scamriskwarning #solana