In the world of bitcoin (BTC) and cryptocurrencies, creativity abounds, both for good and for evil. Now scammers have developed scam websites posing as mining rigs but actually looking to steal Tether (USDT) and other digital assets.
Such is the increase in this type of scam that the developer team of the popular Ethereum wallet, Metamask, saw the need to issue a release about the topic. There they detail how the modus operandi in these frauds.
“Fake ‘mining’ sites ask you to join a ‘node,'” reports Metamask (quotes around “mining” and “node” are from the original text). He adds the statement: “the website will try to connect to your wallet to get you to approve unlimited access to your tokens.” They clarify that “so far, they appear to be targeted at mobile users and USDT specifically.”
In case you approve the signing of the smart contractthe website will steal your USDT (and maybe other tokens too).
It is not the first time that a similar scam has been seen in Ethereum or other blockchains with pages that invite you to sign smart contracts that are not what they claim to be. In this case, the scammers, Metamask reports, even managed to make it look like they are earning rewards from mining, with the intention of getting the victim to send more funds. If you fall for the scam, those funds will also be forwarded to the scammer’s address.
How to prevent your cryptocurrencies from being stolen?
As well as warning about the problem, Metamask also gives three tips to prevent becoming a victim of this type of fraud.
First of all, it is recommended to research the website and verify its legitimacy. As well it is requested not to approve smart contracts in which there is no trust. Finally, it is recommended that you do not provide unlimited approvals.
To all this, you can add some advice that CriptoNoticias, in its educational section, provides on the subject. There it is recommended to educate yourself, investigate in depth before making an investment, not believe everything you read, resort only to reliable companies and use common sense.
If something looks too good to be true, it’s too good to be true. (…) Always ask yourself the standard questions. If something seems suspicious, don’t give out any information or money until you investigate thoroughly.
Criptopedia, educational section of CriptoNoticias