CRYPTO CORNER EPISODE 458
Market Analysis, Updates, News & Reviews
Both Metamask and Trust wallet are often targeted by scammers due to their decentralized nature – these are services that are operated by companies, but they are giving users complete freedom – in the sense that the company running the software does not store any details about the users, nor do they control the private keys of the wallets of their users, so in a case of a fraudulent transaction, there’s no one to complain to – and there is no way to reverse the transaction – which makes it ideal for scammers – once your account is compromised, Metamask or Trust wallet can not help you, you are in complete control of the accounts that you use with these service providers and this is why we keep seeing more and more hacking, phishing attacks and other scamming tactics being used in order to compromise users wallets or to make them give away sensitive data which will allow the scammers to unlock the wallet and move the funds into their own wallets – upon which the victim can not do anything. Last year there are many phishing attempts on Twitter with fake giveaways and other tactics, like for instance, when someone makes a genuine enquiry about a problem they have with Metamask, fake Metamask accounts posing as company helpdesk operators, respond to these queries and ask users to message them directly. From there they will ask for the login details and sometimes for the seed phrase – which is how they gain control over your account and everything you have in there. Metamask is the one that is being targeted more often, but now Trust wallet users are targeted by a new phishing scam – this time via email.
I guess this is by random as I don’t have any email linked to my Trust wallet, nor with Metamask for that matter, yet I keep receiving emails from both Metamask and Trust wallet, to complete KYC – something that is not required with either Metamask nor Trust wallet – these are both non-custodial services and identification is not necessary, neither is any verification in any form. You only identification with both services is your password and you both wallets provide a seed phrase – a string of words that are identifying your wallet, so in case you forget or lose your password, you can use this seed phrase to sync the app with your account.
This is very important, please remember – non-custodial services do not require identity verification and if you receive any emails that ask you to do something like that is certainly a phishing attempt. These emails look like they are company emails, but upon closer look, it becomes obvious that they are fake.
The emails I received look like this:
☝As you can see, they both have the same wording and both include links that will compromise your accounts.
These are the latest from a series of phishing attempts targeting users of non-custodial crypto services and I’m sure they won’t be the last.
Always check with these service providers if they have any notifications when you open your dashboard and avoid links in any emails for that matter.
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🛒Where I buy crypto
- Bitpanda (bank cards & transfers accepted)
- Coinbase (credit cards, bank transfers)
- Swan Bitcoin (US only)
- Crypto.com (bank cards & transfers)
- Binance (credit card, bank transfer)
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- Binance (biggest, KYC required)
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- Margex (100x leverage, no KYC)
The information contained in this article is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this video reflect solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.
All information is meant for public awareness and contains what is already in the public domain. Please take this information and do your own research.
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