The FBI cautioned that account hijackers use their tweets to “create a sense of urgency” and advised consumers to thoroughly investigate any website or prospective opportunity before clicking on it.
The Federal Bureau of Investigation (FBI) of the United States has issued a harsh warning about criminals using dishonest tactics to infiltrate the nonfungible token (NFT) and cryptocurrency industry. These con artists are skilled at taking control of social media accounts and passing for real people in order to con unsuspecting consumers.
The establishment of counterfeit websites, which trick victims into thinking they are utilizing legitimate platforms before stealing their NFTs or cryptocurrency, is one of the tactics used by these criminals. The FBI cautions the public to use cautious and remain vigilant as the number of victims keeps increasing.
Related: Crypto phishing attacks up by 40% in one year - Kaspersky
The Sophistication of the Scams
The FBI’s PSA demonstrates the dexterity of these con artists, who either directly access the social media accounts of NFT developers or set up accounts that are nearly identical to promote false NFT releases. Scammers entice their victims by creating a sense of urgency, using words like “limited supply,” and making the promotion seem unexpected.
Links in these deceptive notifications take users to phishing websites made to look legitimate, deceiving them into linking their wallets to access or buy NFTs. Unfortunately, these operations connect to drainer smart contracts instead, costing unwary consumers money.
These schemes are more intricate than simple wallet hookups. Even when they don’t connect with questionable websites, users can become victims. An unfortunate person recently lost over $300,000 worth of NFTs despite accidentally clicking on a fake LooksRare NFT marketplace website without connecting their wallet.
The promotion of the bogus website at the top of Google’s search results emphasizes the continued difficulty caused by paid advertisements and prompts concerns about how to address this enduring issue.
Related: CZ Warns of Phishing Attacks After Uniswap Founder gets Hacked
The FBI’s Tips
The FBI offers crucial advice for avoiding frauds in light of these expanding concerns. Before clicking on links, it urges users to thoroughly investigate and vetting any chances, especially surprise NFT drops or gifts. Verifying account names and website addresses might help users spot impersonators and avoid falling for scams.
In order to protect digital assets, vigilance is still essential as the crypto field develops. Users may aid in preventing scams, fostering a safer and more secure environment for all players in the NFT and crypto ecosystem, by remaining aware and taking certain preventative measures.