Cybercriminals have devised a new method of obtaining the passcode to a bitcoin wallet. Scammers are now watching for certain ‘crypto’ phrases in tweets and reacting with malicious links.
These scamming bots will respond to tweets with specific crypto wallet keywords like ‘MetaMask’ or ‘TrustWallet’ in a matter of seconds.
When such phrases are used in a tweet, Twitter bots will immediately respond, acting as “fake help agents,” with malicious links aimed to steal your cryptocurrency wallet and all of your crypto coins.
New Scam Reported In Crypto Market
The number of cryptocurrency users targeted by a crypto support bot scam revealed in May has now risen and broadened. Scammers search every tweet on Twitter for certain phrases, such as the names of crypto platforms “MetaMask,” “Phantom,” “Yoroi,” and “Trust Wallet,” as well as words like “support,” “help,” and “assistance.
” When a scammer’s bot notices a tweet like this, it immediately responds to the user, providing fake advice and persuading them to click a link.
If the user falls for it, the fraudster proceeds to work on the victim, utilizing social engineering to gain the user’s cryptocurrency account recovery phrase. Once they have that, the scammer will steal the user’s cryptocurrency.
After the report in which Bleeping Computers uncovers the deal of the scam, Twitter told BleepingComputer that spamming with Twitter APIs is against the rules and that they’re working on new ways to avoid such attacks.
You should never tell anyone your wallet’s recovery phrase. No legitimate support person from ‘MetaMask,’ ‘TrustWallet,’ or anywhere else will ever ask for the recovery phrase.
The security of wallets is determined by how they are managed by the user. The most serious threat to bitcoin security is the loss or disclosure of the private key by an individual user.
Online wallets are the simplest to set up and use, but they are also the most vulnerable to hacking. Using an offline wallet instead of an online wallet is one approach to keeping your cryptocurrency safe.