Experts name a list of cryptocurrency frauds that take place on Twitter

A cybersecurity specialist known as Serpent has published a list of cryptocurrency and NFT scams that are currently circulating on Twitter. Serpent described how scammers are targeting inexperienced cryptocurrency users using clone sites and accounts, including malware.

Serpent believes that fraudsters pose as blockchain developers and seek out users who have recently been victims of a large-scale hack or exploit, demanding that they pay a fee to deploy a smart contract that can recover their stolen funds.

Instead, the fraudsters take the fee and disappear. «Simply put, fraudsters are trying to target people who have been scammed before and claim that they can return the money,» the expert explains.

A slightly different strategy of hackers uses recent exploits. According to the analyst, the fake website revoke. cash uses the concept of «urgent status» to force users to click on phishing links. The attackers lie about the threat to the user’s cryptocurrency assets and offer victims to visit their pseudo-projects.

Another type of fraud targets users who want to join a get-rich-quick scheme. «The Uniswap scam, which is essentially a message from spam bots, invites them to use malware to transfer cryptocurrency assets to the criminal’s wallet.

Another criminal tactic offers NFT collectors to «beta test» a new game or P2E project (Play-to-Earn). However, this is just a pretext for sending malware and viruses that can collect cookies, passwords, and browser data.

Earlier, we wrote about a report from Chainalysis, which states that the revenue from cryptocurrency fraud fell by 65% in 2022. As of today, the total revenue from cryptocurrency fraud since the beginning of the year is $ 1.6 billion, which is $ 3 billion less than in 2021. It is worth noting that this estimate is only a drop in the bucket, as hacking of cross-chain bridges, NFT collections, and cryptocurrency project accounts on social media occurs almost daily. Therefore, the real figure of losses may be much higher.