Scammers are targeting cryptocurrency scam sites to hijack their target audience
Categories: Crypto News
Scammers aretargeting cryptocurrency scam sites to hijack their target audience
Cryptocurrencyscam sites are beingtargeted by other scammers to hijack their traffic and their potentialearnings. A recently discovered threat actor, named Water Labbu, ismanipulating users who are attracted to these sites as a source of revenue,using a malicious script as a tool to interact with wallets. which will beattacked on the basis of its funds.
CryptoScammers Are Attacking Crypto Scammers
The rise ofthe cryptocurrency ecosystem has generated interest in targetinginvestors through scam sites using various resources, including Youtubestreams, to do so, as in a recent report. is shown. Now, scammers are takingadvantage of other scammers through sophisticated script tools.
A newtype of threat actor, called Water Laboo, is targeting third-party crypto scam sites touse their lured users as targets of their attack. The attack inserts a scriptinto a cryptocurrency scam web page, usually a sort of lending-liquidity page,that sends an acceptance signal to a user's cryptocurrency wallet if hehas a certain amount of cryptocurrency in his wallet.
If the useraccepts the request, which is designed to look like a valid token allowancerequest from the Web3 site, the affected wallet will be out of all USDT. Thisis a double scam attack: Water Laboo steals cryptocurrency from targeted usersand also uses the resources of the scam site, which has previously invested inmultiple channels to attract the attention of these users.
Earningsand Warnings to Avoid This Scam
According toa recent article by cyber security and antivirus firm, Trend Micro, Water Laboohas managed to infect 45 cryptocurrency scam websites. The company alsodetermined that at least nine addresses were victims of this fraud, allowingthe attack to embezzle more than $300,000 of funds.
To avoidfalling prey to such attacks, users should follow the same best practice rulesas to avoid other similar cryptocurrency scams. Trend Micro explains that usersshould be wary of any investment invitations that result from untrustedparties.
In addition,they should not trade cryptocurrency funds on any unknown platform withoutthoroughly examining its legality, understanding what it does and how itoperates. To avoid such scams Another approach is to be very aware of tokenapproval limits and review every transaction signed by the cryptocurrencywallet used.