In crypto I will defined phishing as a type of cyber attack that scammers used to impersonate legit projects, wallets, exchanges or the support team from tech companies to trick users to reveal their private keys or seedphrase in other to have access and steal their crypto currency. Phishing is dangerous because when transfered it can be reversed again. So once the scammer received the funds it can't be reversed.
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This scammers uses fake airdrops, security alerts or some clone account that resembles the official account of the customers support department to manipulate users feelings of urgency trust and greed to catch them on a trap.
In most cases, they deceive people by using social media, email, or malicious websites that are indistinguishable from the real ones.
Let's look more into the common phishing methods.
**Fake Websites and Exchanges **
Scammers create fake exchanges or web sites by cloning thr design, logos and the layout of real platforms.
It can be Binance, Metamask or any platform they choose to use. They usually create similar domain name let me say (like binance.com their own will be biananice.com).
After that they will use advertising tools to promote the sites through spam emails, social media promising users of high bonuses or urgent way to fix an account that has issues.
With this the users will enter their seedphrase thinking it's thr original platform . Once your personal logins has been submitted. They drain your account.
The only way to prevent this type of attack is for you to recheck the domain before you click the link as scammers will make thr link look so real.
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Social Media scam
Scammers impersonate some platform on social media. They have a fake account of social media platforms, influencers, and support staff accounts. Mostly they use platform like Facebook, X, Discord and Telegram. They move to people's dm with an urgent messages like
You are at risk of losing your account if not verified.
Or claim $100 airdrops
When you click on those links it takes you directly to their cloned sites.
Victims of this do enter their seedphrase and approve malicious transactions instantly losing their funds
To prevent this: never click on links on social media. A legit customer care will never ask you for your seedphrase or private keys.
Airdrop and Giveaway Scams
Scammers used free airdrop to trap users. As I used earlier they will post on social Media link
Click here to claim $100 airdrop, or they can use trending airdrops to trap users. That will urge users to pay for the airdrop transactions. To do that you need to connect and approve the transaction that way they have access to all your money and run the transaction to drain your account.
To prevent this: Always verify airdrop before taking part and remember that real giveaways do not require you to make any payments for it.
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Scammers are human beings like you, they are looking for money by all means. They can do anything to get it. That why they spend time to train themselves for the job and clone sites to ensure that users trust and believe them. You need to also be smart to overcome them. Check, verify before clicking any link online.
am @theycallmevick, I write about little things we should know about crypto and AI
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@theycallmevick
Only one post per day is allowed in the community, you should not make more than one post a day.
Ok
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