Summary

Crypto scammers have found an ironic victim in their own ranks: themselves. A new scheme circulating primarily on YouTube cleverly entraps wannabe thieves, causing them to lose money in a sophisticated wallet ploy.

What You Should Know:

• A new scam cleverly targets thieves looking to steal funds from a crypto wallet.
• This operation mostly preys on those attempting to engage in theft rather than executing large-scale thefts.

Incident Details

A recent security update by Kaspersky highlighted the crafty approach scammers use to deceive others in the crypto scene.

One common scenario involved a thief expressing interest in transferring USDT from a wallet. The wallet contained over $8,000 in stablecoins on the Tron blockchain. However, unbeknownst to the thief, accessing the funds required navigating through a multi-signature wallet that allows transactions only with multiple approvals. Thus, any attempt to siphon off funds results in the tokens disappearing into another wallet controlled by the scammers.

This tactic has become a frequent occurrence as scams see various accounts online sharing the same bait, leading to numerous victims.

Kaspersky's Insight: "The scammers are impersonating beginners who irresponsibly share access to their wallets, ultimately tricking other fraudsters, who then become the prey themselves."

Conclusion

This ongoing trend indicates a shift in the landscape of crypto crime, showcasing how aspirants of deceit are being outsmarted by their peers. Expect more updates as this clever method proliferates through the digital underbelly of crypto.