New scam uses seed phrases as bait to steal funds from other crypto thieves

PANews reported on December 30 that according to CoinDesk, last week, the security company Kaspersky revealed a new scam that was widely circulated on YouTube, and even cunning scammers praised its ingenuity. Kaspersky noticed a comment about how to transfer USDT, which came from a Tron blockchain wallet that held more than $8,000 worth of stablecoins. However, this was not from a cryptocurrency novice, but a carefully designed trap.

Stablecoins are stored in a multi-signature wallet and require a fee to withdraw. When the scammers tried to steal the funds by sending TRX tokens, the tokens mysteriously disappeared and were transferred to another wallet controlled by the scammers. It turned out that the bait wallet was set up as a multi-signature wallet, which requires the consent of multiple people to conduct transactions, so USDT cannot be transferred directly to personal wallets. Kaspersky pointed out that the scammers disguised themselves as novices and shared wallet access rights to deceive equally naive thieves, who eventually became victims. This scam is not an isolated case on the Internet, with multiple new accounts posting the same comments and mentioning the same mnemonic phrase.

Since transaction fees on the blockchain are low, often less than $10, such scams are likely designed primarily for those seeking to profit through shady means, rather than sophisticated criminal operations designed to steal large amounts of money.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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