A sophisticated cryptocurrency scam has been uncovered by security company Kaspersky, as reported by CoinDesk. The scam, which was widely circulated on YouTube, involves scammers disguising themselves as novices and sharing wallet access rights to deceive fellow thieves.
How the Scam Works
The scam begins with a comment about transferring USDT from a Tron blockchain wallet holding over $8,000 worth of stablecoins. However, this is a carefully designed trap. The wallet is set up as a multi-signature wallet, requiring the consent of multiple people to conduct transactions. When fellow scammers try to steal the funds by sending TRX tokens, the tokens disappear and are transferred to another wallet controlled by the scammers.
A Trap for Fellow Thieves
Kaspersky notes that the scammers are targeting fellow thieves, rather than novice cryptocurrency users. The scam is designed to take advantage of those seeking to profit through shady means, rather than sophisticated criminal operations. With transaction fees on the blockchain often less than $10, the scammers are likely targeting small-time thieves.
A Widespread Scam
This scam is not an isolated case, with multiple new accounts posting the same comments and mentioning the same mnemonic phrase. Kaspersky’s discovery highlights the need for vigilance in the cryptocurrency community, particularly among those engaging in illicit activities.
Note
This article is for informational purposes only and does not constitute investment advice.
Source: Panewslab.com
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