Web3, a decentralized online ecosystem that is based on the blockchain, has been a topic of interest among crypto enthusiasts, tech experts, and many other individuals. The early development of applications including cryptocurrencies and Non-Fungible Tokens (NFTs) have already been used to the advantage of cybercriminals with $14 billion worth of cryptos stolen in 2021. Even though blockchain is hailed as one of the most secured technologies on the internet, scammers or threat actors always find their way out, enticing targets to click on a malicious link. Before enthusiasts get excited about Web3, they should first familiarize themselves with some of the successful phishing scams recently launched.
Seed phrase phishing
Seed phrases are keys that unlock access to crypto accounts. Since these phrases are secret keys, threat actors mostly deceive victims into exposing them. Recently, scammers used Google ads to direct victims to a phishing website or a fake website designed to look like the original one. Victims were then asked to enter their recovery phrase as part of the account registration or recovery process. The phrases were as expected, exposed, and used to access the accounts of the victims to transfer all their funds.
Continue reading: https://www.crypto-news-flash.com/excited-about-web3-beware-of-these-crypto-and-blockchain-phishing-methods/
Seed phrase phishing
Seed phrases are keys that unlock access to crypto accounts. Since these phrases are secret keys, threat actors mostly deceive victims into exposing them. Recently, scammers used Google ads to direct victims to a phishing website or a fake website designed to look like the original one. Victims were then asked to enter their recovery phrase as part of the account registration or recovery process. The phrases were as expected, exposed, and used to access the accounts of the victims to transfer all their funds.
Continue reading: https://www.crypto-news-flash.com/excited-about-web3-beware-of-these-crypto-and-blockchain-phishing-methods/
