Cryptocurrency worldScams targeting ‘s participants are increasing. “In my wallet”, which has been frequently seen in YouTube comments lately. Tether I have (USDT) and I have recovery words. It stands out as one of these scams with the message “How can I transfer my funds to another wallet?” The purpose of such messages is to protect the victims from Tron (TRX) and transfer these assets to another wallet.
Details of the Trap Set
According to Kaspersky, a Russia-based cyber security company, this fraud method is designed in a very cunning way. The words of rescue in the messages are shared openly. Some people reading the comments try to control the wallet using these words. However, although there is USDT in the wallet, there is no TRX. An amount is required to transfer USDT. TRX needs to be transferred.
At this point, scammers expect the victim to send TRX from their own wallet. When the victim transfers TRX, the amount sent is immediately transferred to another wallet. The reason for this is that the wallet is protected by a multi-signature system. In multi-signature wallets, approval from more than one person is required for a transaction. Therefore, no matter what the victim does, he cannot withdraw the USDT from the wallet.
How Can You Protect Yourself From This Method of Scams?
Although the fraud method in question seems to target malicious individuals, innocent users are also at risk. To protect against scammers, Kaspersky recommends users follow these steps:
- Beware of Recovery Words: Never share the recovery phrases of your cryptocurrency wallets with anyone else. These words are required for full access to your wallet.
- Be Skeptical of New Accounts: Pay attention to the information shared by newly created accounts on social media. These accounts are often used for fraud.
- Understand Process Requirements: Learn the requirements of networks used for cryptocurrency transfers. For example, TRX is required to send USDT on the TRON network.
- Stay Informed: Be willing to be aware of fraudulent methods in the cryptocurrency market.
This is what Kaspersky points out fraud method It both tests the honesty of individuals and traps unwary users. You always need to be careful to ensure your security in the cryptocurrency world. At this point, you should remember that promises of easy profits are often risky, and free cheese only comes in a mousetrap.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
