A new wave of sophisticated crypto scams is emerging, combining social engineering with malicious Telegram bots to steal cryptocurrency from unsuspecting victims.
According to blockchain security firm Scam Sniffer, scammers are creating fake X accounts impersonating popular crypto influencers, luring users into Telegram groups with promises of exclusive investment insights. Within these groups, users are pressured to verify their accounts through "OfficiaISafeguardBot," a fraudulent bot that creates a sense of urgency by imposing short verification windows.
This verification process, however, involves injecting malicious PowerShell code that downloads and executes malware. This malware compromises computer systems and ultimately targets crypto wallets, leading to the theft of private keys. Scam Sniffer has observed numerous instances of similar malware resulting in significant crypto losses.
Escalating Sophistication of Crypto Scams
While malware targeting cryptocurrency users has existed for some time, the infrastructure behind these attacks is rapidly evolving. Scam Sniffer highlights the emergence of "scam-as-a-service" models, where creators of crypto wallet-draining software rent out their tools to other scammers, enabling them to scale their operations.
Surge in X Impersonations
The recent surge in crypto scams coincides with a significant increase in X impersonation accounts. Scam Sniffer reports an average of 300 X impersonators per day in December, a substantial increase from the November average of 160.These impersonators often share malicious links and promote fraudulent tokens, leading to substantial financial losses for victims. Scam Sniffer reports that at least two victims have lost over $3 million due to these scams.
Other Security Concerns
Cado Security Labs has also warned of a campaign targeting Web3 workers with fake meeting apps that inject malware and steal credentials. Additionally, Cyvers has cautioned about an anticipated surge in phishing attacks during the holiday season, as increased online activity creates more opportunities for hackers to exploit.
Staying Safe
To protect themselves from these evolving threats, cryptocurrency users are advised to:
By staying vigilant and employing robust security measures, cryptocurrency users can minimize their risk of falling victim to these sophisticated scams.
December 2024, Cryptoniteuae