Ah, the eternal waltz of deception 🕺. Threat actors, those masters of disguise, have concocted an elaborate social engineering scheme to swindle crypto users out of their hard-earned digital riches 💸. According to a report from Darktrace, a cybersecurity company that’s seen its fair share of nefarious plots, the techniques employed by these scoundrels bear an uncanny resemblance to those used by the infamous “Traffer Groups” 🤝.
The ruse begins with a cleverly crafted illusion. The threat actors pose as representatives from fake startup companies in the trendy industries of AI, gaming, Web3, and social media 📱. They use compromised X accounts, Medium articles, and GitHub entries to create an air of legitimacy 📚. It’s a masquerade ball, and the guests are none the wiser 🎭.
“Each campaign typically starts with a victim being contacted through X messages, Telegram or Discord,” the report reads 📱. “A fake employee of the company will contact a victim asking to test out their software in exchange for a cryptocurrency payment” 💸. The user, enticed by the promise of easy money, downloads the software, and that’s when the real magic happens ✨.
A Cloudflare verification bubble pops up, extracting information about the computer like a digital pickpocket 🕵️♂️. At some point, credentials from cryptocurrency wallets are stolen, leaving the user with a lighter digital wallet and a heavier heart 💔. Both Windows and Mac users have fallen prey to this scheme, according to the report 🤖.
This scheme bears an eerie resemblance to the December 2024 attacks involved in the Meeten campaign 📆. And, of course, there have been other social engineering attacks targeting cryptocurrency users, including those allegedly orchestrated by certain groups associated with North Korea 🕵️♀️.
The Crypto Scam Epidemic of 2025
Crypto scams, frauds, and thefts are spreading like wildfire in the industry, with creative names like the “pig butchering” scams and “four-dollar wrench attacks” 🐖. In some cases, they’ve become more sophisticated, relying on social engineering, hacked X accounts, and insider fraud 🤥.
On July 7, Chinese authorities warned citizens about illegal fundraising schemes that, in part, were built around crypto’s “killer” use case: stablecoins 📣. Allegedly, the organizations are often fronts for money laundering and online gambling, and the groups take advantage of the public’s limited knowledge of certain aspects of crypto 🤔.
CryptoMoon has written about the crypto scams to watch out for in 2025, including malicious browser plugins that purport to be for security, tampered hardware wallets, and social engineering through a fake revoker website 📝.
On July 8, the US Department of Justice unsealed an indictment against two men for allegedly running a scheme that defrauded investors of over $650 million 🚔. Another scheme has been the fake crypto support scam, which uses psychological tactics to complete the fraud 🤥.
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2025-07-10 23:16