8 Sneaky Crypto Scams On Twitter Right Now
19-part thread describes sophisticated strategies scammers use to separate crypto users from their funds.
Cybersecurity analyst Serpent has revealed his picks for the most despicable crypto and non-fungible token (NFT) scams currently active on Twitter.
The analyst, who has 253,400 Twitter followers, is the founder of artificial intelligence and community-based crypto threat mitigation system, Sentinel.
In a 19-part thread posted on August 21, Serpent explained how scammers target inexperienced crypto users using hacked websites, URLs, accounts, verified accounts, fake projects, fake airdrops and many malware.
One of the most worrying strategies comes amid a recent surge of crypto-phishing scams and protocol hacking. Serpent explains that the crypto recovery scam is used by bad actors to deceive those who have recently lost funds due to widespread hacking, stating:
"Put simply, they try to target people who have already been scammed and claim they can get the funds back."
According to Serpent, these scammers pretend to be blockchain developers and are looking for users who have fallen victim to a recent hack or large-scale exploit, asking them to pay a fee to deploy a smart contract that can recover their stolen funds. Instead, they "take the charge and run away".
This was seen in action after the multi-million dollar exploit affecting Solana wallets earlier this month, with Crypto Tips YouTube channel host Heidi Chakos warning the community to beware of scammers offering a solution to piracy.< /p>
Another strategy also exploits recent exploits. According to the analyst, the Fake Revoke...
19-part thread describes sophisticated strategies scammers use to separate crypto users from their funds.
Cybersecurity analyst Serpent has revealed his picks for the most despicable crypto and non-fungible token (NFT) scams currently active on Twitter.
The analyst, who has 253,400 Twitter followers, is the founder of artificial intelligence and community-based crypto threat mitigation system, Sentinel.
In a 19-part thread posted on August 21, Serpent explained how scammers target inexperienced crypto users using hacked websites, URLs, accounts, verified accounts, fake projects, fake airdrops and many malware.
One of the most worrying strategies comes amid a recent surge of crypto-phishing scams and protocol hacking. Serpent explains that the crypto recovery scam is used by bad actors to deceive those who have recently lost funds due to widespread hacking, stating:
"Put simply, they try to target people who have already been scammed and claim they can get the funds back."
According to Serpent, these scammers pretend to be blockchain developers and are looking for users who have fallen victim to a recent hack or large-scale exploit, asking them to pay a fee to deploy a smart contract that can recover their stolen funds. Instead, they "take the charge and run away".
This was seen in action after the multi-million dollar exploit affecting Solana wallets earlier this month, with Crypto Tips YouTube channel host Heidi Chakos warning the community to beware of scammers offering a solution to piracy.< /p>
Another strategy also exploits recent exploits. According to the analyst, the Fake Revoke...
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