Earlier today, on December 11th, Web3 security firm ScamSniffer has issued a new warning about a sophisticated scam targeting cryptocurrency users by mimicking popular influencers in the space and using stealthy malware to drain victims’ wallets.
The firm has raised alarms about a rising threat involving fake Telegram groups that promise exclusive insights and opportunities but are part of a larger scheme to compromise users’ crypto assets.
New Malware Scam Targeting Crypto Users Via Telegram
ScamSniffer shared the warning on X (Twitter), detailing how attackers are using a combination of social engineering tactics and malicious software to trick users into exposing their private keys.
According to ScamSniffer, the scam begins with fraudsters impersonating well-known crypto influencers on platforms like X.
In addition to inviting readers to join “exclusive” Telegram groups where they can get investment and alpha advice, these phony accounts leave comments on real posts. Once users join the group, the scammers prompt them to verify their identity using a fake bot called OfficiaISafeguardBot.
The verification process creates a sense of urgency by offering very short time windows to complete the task. However, the real goal of this scam is far more malicious. When users follow the verification instructions, the bot secretly injects malicious PowerShell code into their clipboard.
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Upon execution, this code triggers the download and installation of malware that compromises both the user’s system and cryptocurrency wallets.
ScamSniffer has confirmed that the malware has been flagged as malicious by VirusTotal, a well-known online malware detection tool. In recent cases, this malware has been responsible for the theft of private keys, granting attackers full access to users’ crypto assets.
Rising Scam Techniques in the Crypto Industry
This new scam is part of a broader trend in the crypto space, where scams are becoming more sophisticated and difficult to detect. Traditional phishing attacks, while still prevalent, are now being augmented with malware designed to exploit vulnerabilities in users’ devices.
The rise of these attacks has coincided with the booming cryptocurrency market, especially following Bitcoin’s surge to $100,000 and the general uptick in altcoin values. As more people flock to crypto during this period of growth, scammers are seizing the opportunity to target both novice and experienced users alike.
The number of impersonation accounts has seen a sharp increase in recent months, with ScamSniffer reporting an 87% rise in fake X accounts since November. In addition, two notable victims have already lost over $3 million after falling for malicious links promoted by these fraudulent accounts.
The sophistication of these scams has raised concerns in the security community, as they now blend social engineering techniques with powerful malware, making them far harder to detect and avoid.
How to Stay Safe from These Scams?
ScamSniffer has shared several tips to help users protect themselves from falling victim to these attacks. They recommend always verifying the official channels of influencers and projects before engaging with them.
Users should also be cautious of any time-pressured verification processes, as these are often red flags. Using hardware wallets is another important precaution, as they offer an extra layer of security that can protect crypto assets from malware.
ScamSniffer also advises against running arbitrary code or installing unknown software, as these actions can inadvertently open the door to malicious actors.
The warning highlights the evolving nature of crypto scams and underscores the importance of remaining vigilant in an increasingly dangerous digital landscape.
As the crypto market continues to expand, both in terms of value and user adoption, it is essential for crypto enthusiasts to be aware of these threats and take proactive steps to secure their assets.
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