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Crypto Scammers Bait Thieves with Public Seed Phrases in New Scheme: Kaspersky
The cryptocurrency space has seen its fair share of scams and fraudulent activities, but a recent discovery by cybersecurity firm Kaspersky reveals a particularly cunning scheme that preys on the greed of other thieves. In this new scam, crypto scammers are baiting thieves with public seed phrases, luring them into cleverly constructed multi-signature wallet traps.
The scheme begins with a comment under a finance-related video, posted by someone claiming to need help transferring USDT (a stablecoin) from their wallet to another one. They then publicly share their full seed phrase, effectively granting access to the funds in the wallet, which seems suspicious from the get-go. This initial move is nothing short of reckless, as it’s the key to accessing and controlling the funds in a wallet.
Kaspersky discovered that similar comments with identical recovery phrases were posted by newly created accounts, each asking for assistance in transferring USDT from one wallet to another. The scam relies on the assumption that an unscrupulous individual would rather take advantage of the situation than offer help. With access to the seed phrase, they can open the wallet and potentially find a large sum of cryptocurrency worth around $8,000.
However, the scammers have set a trap.
Source: cryptopotato.com
