Analysts from Kaspersky uncovered a new scam aimed at those seeking to profit from someone else’s crypto assets. The scammers post seed phrases for cryptocurrency wallets with tempting balances to lure inexperienced cybercriminals. Instead of gaining access to the funds, victims lose their own assets.
How the Scam Works
According to Kaspersky analyst Mikhail Sytnik, the scammers leave comments under finance-related videos, discussing issues with transferring Tether (USDT). They publish a seed phrase for a wallet that supposedly holds around $8,000 in USDT.
To move the funds to another wallet, a user needs to deposit a small amount of TRX to pay the network fee.
Herein lies the trap: the wallet is configured as multi-signature, making it impossible to send funds without approval from multiple parties. As soon as the user deposits TRX into the wallet, those tokens are automatically sent to another address under the scammers’ control.
The scheme exploits users’ desire for quick, easy gains by accessing someone else’s assets. Sytnik explained that even after adding funds for the network fee, the victim cannot withdraw them. The scammers have preconfigured the wallet so that control of outgoing transactions remains in their hands.
Some observers have compared these scammers’ actions to “Robin Hood” deeds, targeting people who try to steal someone else’s crypto. However, analysts say it is merely another form of fraud, illustrating the ingenuity of bad actors in the cryptocurrency space.
Recommendations for Users
Such schemes are nothing new. In July, Kaspersky reported more sophisticated scam tactics on the Telegram platform, where targets were lured via links to legitimate exchanges or malicious files. The primary goal of these attacks is to install malware and steal data or assets.
Experts strongly advise users not to attempt to access wallets belonging to others, even if a seed phrase is provided openly. It’s also crucial to be wary of strangers’ claims about large crypto balances.
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This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.
