Recently, a large number of help posts with similar content suddenly appeared on the Internet. The posters urgently asked: "How to withdraw virtual currency from the wallet, please help me, 12 wallet mnemonics..." The mnemonics are interoperable with the private key. If leaked, the encrypted assets will be exposed to the public. This made some netizens covetous.

Someone tried to enter the relevant mnemonic words on the platform, and the wallet appeared immediately, revealing the amount of assets and other information. Next, some novices thought that they could easily transfer this large amount of fake currency to their own names? However, when "Too young!" was transferring money, the netizen found that he had to first deposit a small fee as required. So he "paid" and then "transferred money". After a series of operations, the wallet did not move at all, and the fee disappeared without a trace. This is actually a new type of virtual currency "phishing" scam.

A senior netizen analyzed: The scammer deliberately leaks the mnemonic phrase, and then others import it, finding virtual currency in the wallet. They want to transfer it but there’s no transaction fee, and when they try to recharge the transaction fee, they find it can’t be transferred because this wallet is a multi-signature wallet controlled by another wallet. Then the program written by the scammer transfers the fees away, continuing to scam the next person. They can scam dozens of yuan in RMB at a time.

"Phishing" scams have a long history. Previously common scam tactics generally targeted the victim's principal, and they would even provide some "bait" like transaction fees or rewards. From scamming the principal to only scamming small fees, some netizens jokingly said: "I knew it was a scammer, but didn’t expect it to be a small-time scammer!" It seems that the virtual currency "phishing circle" is now also undergoing fierce internal competition.


For ordinary netizens, be wary of the following common "phishing" tactics: Gaining trust: Scammers may disguise themselves as ordinary users in need of help, claiming they cannot operate themselves for some reason (such as account restrictions or regional limitations), and request others to operate on their behalf. To increase credibility, they may offer enticing "transaction fees" or rewards. Inducing transfers: Scammers may ask you to provide your cryptocurrency address, claiming they will first transfer a sum of virtual currency to you and ask you to help withdraw it. In reality, what they transfer may be fabricated transfer screenshots or other forms of fake proof. Exploiting platform rules for wrongdoing: In some cases, scammers may exploit virtual currency from black card recharges or other illegal funding sources. Once this money enters your account, it may lead to your account being frozen or even facing legal risks.

They may also exploit vulnerabilities to carry out "reverse scams," resulting in asset losses in the victim's account. Directly scamming information or funds: Scammers may extract your personal information (such as identity information, transaction records) during the trading process or ask you to pay a "transaction fee" and then disappear. Industry insiders remind netizens to protect themselves, not to trust strangers easily, and not to help strangers complete any operations involving cryptocurrency, especially requests involving withdrawals or transfers. Do not casually disclose your relevant information. Stay vigilant; if the other party claims to pay rewards, especially high rewards, it is highly likely to be a scam.

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