SCAMMERS ARE USING THESE TO STEAL MONEY FROM YOUR WALLET
According to Forta Network, a blockchain security company, scammers have created over 7,905 blockchain wallets in May to steal cryptocurrency from ordinary users. These scammers employ non-technical attack tactics, such as obtaining personal information or using tricks to deceive users into disclosing passwords or seed phrases. Some attacks can be executed by simply knowing the victim's wallet address. Let's explore the methods that crypto scammers are currently using to steal money from your wallet, together with 3S Wallet!
One common non-technical attack is "Ice phishing," accounting for 55.8% of the recorded attacks by Forta. Unlike traditional phishing attacks, Ice Phishing focuses on deceiving victims into signing malicious transactions on the blockchain, granting the scammers access to the victim's wallet and stealing their funds. These phishing tricks are often carried out by luring victims to fake websites designed to resemble reputable platforms. This type of scam relies on the step of "approving token allowances," a common operation in non-custodial Web 3 wallets, which allows users to grant a certain level of access to their wallets to smart contracts. Attackers also target users through decentralized applications (dapps), such as decentralized exchanges (DEXs), by creating illusions of profit opportunities like airdrops. Users inadvertently relinquish control of their assets by approving permission-granting transactions without double-checking.
Another scam tactic commonly targets non-fungible token (NFT) traders, exploiting vulnerabilities in NFT infrastructures, such as the Seaport protocol used by OpenSea and other NFT marketplaces. Attackers identify users with valuable NFTs and deceive them into approving low-priced transactions for their NFTs. Address Poisoning is a widely used technique by scammers in both traditional and crypto fields. It involves researching the victim's wallet transaction history to identify frequently interacted addresses. Scammers create a similar-looking blockchain address and send a low-value transaction to "pollute" the victim's transaction history, increasing the likelihood of copying and pasting a malicious address for future transactions.
Although scams are becoming increasingly sophisticated, scammers often rely on simple yet effective exploitation methods, such as using recognizable brands to attract victims' trust or attention. They may send counterfeit tokens to holders of genuine tokens, enticing them to swap the fake tokens for the genuine ones on a scam website. Additionally, scammers can distribute fake ERC-20 tokens for a legitimate smart contract, making users believe they have received an airdrop from a trustworthy source.
A pharming attack is a form of scam method where hackers redirect web traffic from reputable websites to malicious ones, allowing them to access sensitive information like passwords, usernames, and users' cryptocurrency wallets.
Hackers typically exploit domain name system (DNS) poisoning to inject malicious code into someone's URL, redirecting the victim from their intended website to a fake website set up by the attacker. This DNS manipulation allows changing the IP address through malicious commands. Users fall into the trap and enter their login information on the website, which is then directly sent to the hacker.
Pharming attacks are particularly dangerous because they can be challenging to detect. Victims may enter the correct URL for their bank's website but still end up accessing a convincing counterfeit website.
To defend against these attacks, it is essential to maintain a cautious approach and double-check transactions, being vigilant with every address your wallet interacts with. Ideally, investors should use wallets that incorporate integrated security features. 3S Wallet is a Web3 wallet product built on the principles of Simple, Security, and Safety, offering additional security features to help users easily control their assets, along with a user-friendly interface suitable for all users.
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Published on July 08, 2023
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