Crypto scams are on the rise once again, with impersonation accounts reaching over 300 per day, according to blockchain analysts. These bad actors are targeting high-profile accounts to promote fake tokens, leading to millions in losses for victims. Experts are warning users to stay vigilant and be cautious when interacting with crypto-related content online.
One recent case saw two victims losing over $3 million worth of crypto by engaging with malicious links and signing transactions linked to fake accounts. The scams are particularly prevalent on Solana, with compromised accounts belonging to major entities being used to push a scam meme coin called HACKED. Blockchain sleuth ZachXBT has issued a warning to the crypto community, advising users to revoke access permissions to unfamiliar sites or apps to prevent falling victim to these scams.
The surge in impersonation accounts poses a significant risk to users, as scammers continue to exploit high-profile accounts to push fraudulent schemes. It is crucial for users to remain cautious and vigilant when engaging with crypto-related content online to avoid falling victim to these scams. The market cap of the HACKED token is relatively low, indicating that the scammers may not have been very successful in their attempts, but users should still exercise caution to protect their assets.
The compromised accounts appear to be connected to the same malicious site or application, suggesting a coordinated effort by bad actors to deceive users. In a related incident, Kylian Mbappé’s account was used to promote a fake MBAPPE meme coin, highlighting the ongoing threat of such scams in the crypto space. Additionally, family members of U.S. president-elect Donald Trump were targeted in a scam involving the fake World Liberty Financial coin, underscoring the need for users to be cautious and proactive in protecting their assets.
In conclusion, the increase in crypto scams, particularly impersonation accounts pushing fake tokens, is a significant concern for users in the crypto community. It is essential for users to remain vigilant, revoke access permissions to unfamiliar sites or apps, and exercise caution when interacting with crypto-related content online. By staying informed and proactive, users can protect themselves from falling victim to these scams and safeguard their assets in the volatile crypto market.
