Monday, 24 June 2024
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CryptoCrypto Regulations

The FBI issues a warning about phishing schemes and social media snoopers

In the nonfungible token (NFT) and cryptocurrency area, the FBI has issued a warning about criminals posing as real persons on social media and stealing their accounts.

The warning is being issued as more people are becoming victims of these scams and having their money stolen. The FBI warned individuals to be on the lookout for criminals using financial fraud schemes to steal money from active members of the NFT community while acting as legitimate NFT developers.

FBI’s Warning

The purpose of fraudulent posts is frequently to convey a sense of urgency by using words like “limited supply” and “surprise” or to describe the campaign as an unannounced mint. According to the FBI, the links included in these announcements are phishing scams that lead consumers to a fake website that seems to be an official NFT project extension.

Scam websites ask users to connect their wallets to claim or buy NFTs, but these connections lead to drainer smart contracts, which cause users to lose their money or assets. But occasionally, things can get trickier than that.

  • FBI warns of cybercriminals posing as real people for NFT theft.
  • Scam websites use wallet connections for NFTs, potentially causing asset loss.
  • FBI warns consumers about frauds, advises cautious online behavior.

User StockEd said that they accidentally clicked on a fake LooksRare NFT marketplace website, disconnected their hot wallet, and still had more than $300,000 worth of NFTs stolen in a thread on X (previously Twitter) on August 5.

The bogus website was advertised as a sponsored advertisement at the top of Google’s search results, which has been a persistent problem that Google hasn’t yet resolved.

The FBI issued a warning about these frauds and provided numerous suggestions for consumers to stay safe. Before clicking on links, it was underlined that users should do their homework and “vet any opportunity,” such as unexpected NFT dumps or gifts.

To avoid falling prey to impersonators, it also advised consumers to double-check for any differences in website URLs or account names.

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