Blockchain investigators at SlowMist have uncovered a new crypto scam targeting users making offline USDT payments through physical cash trades. The con artists deceive victims into connecting their imToken wallets to a malicious node controlled by the scammers.
As a crypto investor, I’ve come across some troubling news. Blockchain investigators at SlowMist have uncovered a cunning new scam in the crypto world. Scammers are targeting users making offline USDT transactions through cash trades. The swindle works by deceiving victims into linking their imToken wallets to a malicious node operated by the fraudsters. These criminals can then steal your funds and leave you empty-handed. Stay vigilant and be cautious when conducting any offline crypto transactions, and always double-check the authenticity of any nodes or wallets you connect to.
Initially, con artists cultivate trust by guiding victims to download the genuine imToken app and transfer minor quantities of USDT and ETH. Subsequently, they coax users into adjusting their node settings, enabling scammers to artificially inflate the victim’s USDT balance and create a false impression of a successful deposit.
When a user attempts to withdraw money, they discover that their account balance, which appeared inflated earlier, was merely a deception. Meanwhile, the scammers have successfully stolen the cash during an in-person transaction.
Based on the findings of SlowMist, fraudsters exploit vulnerabilities in blockchain technology like Ethereum‘s Remote Procedure Calls (RPCs) to deceive users by tampering with their account balances and contract data. Interacting with unverified nodes increases the risk of encountering such manipulation.
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2024-04-28 00:52