FBI uncovers new cryptocurrency scam using digital NFT tokens

The FBI has announced that potential NFT owners are at risk of being victimized by fraudulent websites that use so-called «smart contract drainers.» The goal of the attackers is to secretly steal users' digital assets.

«Smart contract drainers» are program codes containing errors or vulnerabilities that allow fraudsters to transfer digital assets to personal wallets without the knowledge of the original owner.

Websites masquerading as legitimate NFT trading platforms are actively promoted through compromised accounts of well-known NFT developers or profiles created to imitate real crypto traders. Posts on such accounts often create a sense of urgency — fraudsters use phrases such as «limited quantity,» «special offer,» and «surprise.»

The FBI warns: «Fake websites offer visitors to connect their cryptocurrency wallets and purchase NFTs. In doing so, users unwittingly connect their wallets to a drainer contract, which leads to the transfer of their cryptocurrency and NFTs to wallets managed by criminals.»

After a successful theft, fraudsters often «launder» stolen assets through cryptomixers, mixing them with other people’s assets to confuse the digital trail.

FBI experts urge potential buyers of NFTs to be alert and take precautions:

• conduct research if unexpected offers for NFTs appear,
• check the authenticity of advertising accounts on social media,
• carefully analyze websites that offer to connect a cryptocurrency wallet,
• be wary of offers that offer NFTs as a reward.