This is, evidently, one of the more-advanced malware out there. Thus, if the man were to only glance at the wallet address of his friend, he might not spot that the actual address is switched.
This virus would generate a wallet address that would have the same beginning and end as the original receiver wallet address, and paste it instead of the said original address into the “ receiver” tab. The man in question had unknowingly downloaded some sort of a DeFi scam virus to his computer. After the friend didn’t receive their crypto, the man went on to investigate what had happened, and learned that he fell for a pretty clever scam. Everything seemed as usual - he logged into his hot wallet, pasted the friend’s address, entered the amount, double-checked the information, and confirmed the transaction. He wanted to send some Ether to another wallet address - to his friend. I’ll give you an example by re-telling a story I’ve read on some cryptocurrency forums:Ī man was scammed during a transaction. Once you do so, a whole variety of things could happen. This could be a coin ( token) miner, an exchange application, an auto-trader bot, a wallet, or anything else ( not necessarily) related to crypto. In many cases, scammers will try to make you install some sort of program on your computer. Probably the most common image that pops up in people’s heads when they think about what is a crypto scam is that of a thief ( scammer) trying to persuade you to do their bidding, whatever that bidding might be.
WAKEFY SCAM HOW TO
After all, once you’re aware of how to spot crypto scams, you’ll be able to successfully avoid them, as well. While we’ll be focussing on a rather specific niche of DeFi scams in this article, it’s worth going over some of the more-common malicious activities that you might come across.