As a seasoned crypto investor with a decade of experience under my belt, I can’t help but feel a mix of frustration and concern when reading about these persistent scams in the crypto world. I remember back in 2013 when I first dabbled in Bitcoin and Ethereum, the thrill of being part of something new and revolutionary was exhilarating. However, the constant fear of falling victim to a scam was always lurking in the back of my mind.
A significant increase in cryptocurrency fraud is being reported by blockchain experts, as more than 300 fake accounts are created daily for deceitful purposes.
Warning bell rings yet again as crypto scams on platform X surge rapidly, with fraudsters seizing control of prominent user accounts to peddle sham digital tokens. Unsuspecting victims have already suffered heavy losses in the millions, prompting safety advisories for users to exercise vigilance.
On December 10th, analysts at blockchain company Scam Sniffer posted a warning. They mentioned that daily impersonation attempts have significantly increased, going up by 87% since last month. This now means over 300 fake accounts are active each day compared to the average of 160 in November. This rise in fake accounts heightens the risk for users as scammers use these accounts to impersonate well-known figures and promote fraudulent activities.
🚨 CAUTION: Rise in Counterfeit X Accounts 🚀
Our tracking system has identified a substantial spike in the number of fraudulent cryptocurrency accounts this week, with daily counts exceeding 300+ (compared to the November average of 160) 📈
⚠️ Two individuals have recently lost more than $3M by clicking on harmful links and executing transactions…
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) December 10, 2024
In a single instance recently highlighted by analysts, two individuals collectively lost more than $3 million in cryptocurrency after they clicked on harmful links and approved transactions tied to fraudulent accounts. Previously reported by crypto.news, such deceitful activities are alarmingly common within the Solana (SOL) network, with even influential entities like Yahoo News UK, Lenovo India, and Money Control becoming targets. The scam involves a fictitious meme coin called HACKED that has exploited these compromised accounts to spread.
As a researcher delving into the realm of blockchain, I’ve been closely monitoring the activities of scammers in our crypto community. Recently, I’ve sounded an alarm, urging users to exercise heightened vigilance. Intriguingly, it appears that these fraudsters might have suffered losses themselves, as the market capitalization of the HACKED token stands at a relatively small $67K, and top traders have barely pocketed $1K in profits.
It seems that the suspect X accounts were linked to the same harmful website or software. To stay safe, ZachXBT advises users to withdraw any access authorizations they may have granted to unknown websites or applications.
The most recent event is part of a string of deceitful schemes, such as the recent exploitation of Kylian Mbappé’s social media account to advertise a sham MBAPPE cryptocurrency. In early September, cybercriminals likewise attacked relatives of the U.S. president-elect Donald Trump in a swindle involving a counterfeit World Liberty Financial coin.
Read More
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- AI16Z PREDICTION. AI16Z cryptocurrency
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- POL PREDICTION. POL cryptocurrency
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Blockaid new dashboard to track Web3 activity and threats
- ‘Kraven the Hunter & ‘Madame Web’ Box Office Disaster Blamed on Media Scrutiny
- Shiba Inu, Bonk, Pepe prices rebound: Beware of dead cat bounce
- The Best Fashion Audiobooks on Audible for Aspiring Stylists, Hypebeasts and Everyone In Between
2024-12-10 14:41