Cryptocurrency analysts tell about a new type of fraud with Ethereum digital tokens

Cybersecurity analysts warn that crypto fraudsters are using ENS domains to defraud crypto investors. They create fake websites that look like real ones using Ethereum Name Service (ENS) domains. These domains allow the use of more convenient names instead of long wallet addresses, which makes them attractive to fraudsters.

ENS domains (Ethereum Name Service) are a decentralized domain name system that allows Ethereum users to bind human-readable domain names to complex long Ethereum wallet addresses. This makes the use of cryptocurrency more convenient and reliable, as you can send and receive funds using only the ENS domain.

Attackers create copies of popular cryptocurrency websites or platforms and lure victims through phishing emails or social networks. Users visiting such resources can enter their login details or transfer cryptocurrency, believing that they are interacting with legitimate services.

Security experts recommend being cautious when interacting with cryptocurrency services and checking the correctness of URLs before entering personal data or transferring funds. Using two-factor authentication and installing additional security features on your cryptocurrency wallet can help you avoid fraud.