Scammers Use Fake Telegram Bots to Spread Crypto-Stealing Malware

Share This Post

The New Face of Crypto Scams: Telegram Bots and Fake Accounts

A disturbing new trend in crypto scams has emerged, with scammers combining social engineering tactics and malicious Telegram bots to inject malware into systems and steal cryptocurrency. According to blockchain security firm Scam Sniffer, this is the first time they’ve observed a scam that combines fake social media accounts, fake Telegram channels, and malicious Telegram bots in such a coordinated way.

In a December 10 post on X (formerly Twitter), Scam Sniffer explained how these scammers are setting up a sophisticated web of deceit to target unsuspecting crypto enthusiasts. Here’s how it works: Scammers first create fake X accounts that impersonate popular cryptocurrency influencers. They use these fraudulent accounts to invite users to join Telegram groups, promising exclusive investment insights or tips on crypto trading.

Scammers are impersonating well-known crypto influencers on X, tricking users into joining malicious Telegram groups. Source: Scam Sniffer
Scammers are impersonating well-known crypto influencers on X, tricking users into joining malicious Telegram groups. Source: Scam Sniffer

The Fake Telegram Bot Trap

Once users join the Telegram group, they’re directed to verify their identity via a fake Telegram verification bot called “OfficiaISafeguardBot.” This bot plays on urgency, creating short timeframes for verification and tricking users into acting quickly without thinking. Once users interact with the bot, it secretly injects malicious PowerShell code into their systems, which downloads and executes malware designed to compromise both their computer systems and crypto wallets.

Scam Sniffer noted that this scam has led to the theft of private keys and cryptocurrency from victims who unknowingly downloaded the malware. In some cases, users had their funds stolen directly from their wallets.

While Scam Sniffer hasn’t seen other malicious bots with the same capabilities yet, it emphasized that these scams are easy to replicate. The infrastructure for creating and distributing such malicious software is rapidly improving, and it’s becoming alarmingly sophisticated.

Crypto Scam-as-a-Service: The Next Evolution of Cybercrime

Scam Sniffer also warned that as these scams prove successful, they could evolve into a “scam-as-a-service” model. This would mean that creators of this malware could start offering their tools to other scammers, enabling a broader range of malicious actors to carry out similar attacks. It’s a worrying trend that mirrors the evolution of phishing software, where scammers hire out their malware tools to others, making the problem even harder to combat.

Surge in Impersonation and Sham Tokens on X

In addition to the fake Telegram bots, Scam Sniffer reported a significant rise in impersonation scams on X. Scammers are impersonating well-known crypto figures and shilling fake links and tokens to lure users into dangerous traps. On average, Scam Sniffer’s monitoring system has identified 300 fake X accounts every day this month—almost double the 160 daily impersonators it observed in November.

These fake accounts have led to some devastating losses. Scam Sniffer reported that at least two victims have collectively lost over $3 million by clicking malicious links and unknowingly signing transactions authorized by these fake accounts. The threat is real, and the consequences can be financially catastrophic for those who fall victim.

Web3 Workers Also Targeted

In related news, Cado Security Labs issued a warning that Web3 workers are being targeted by another wave of malware attacks. These scammers are using fake meeting apps to inject malware into systems, stealing login credentials for websites, apps, and crypto wallets. This highlights the growing threat not only to retail crypto investors but also to professionals working in the Web3 space.

Holiday Season Phishing Surge Expected

As the holiday season approaches, the risk of phishing attacks is expected to surge. Cyvers, a Web3 security platform, has warned that hackers are likely to exploit the increase in online transactions, targeting unsuspecting individuals and businesses during a time of heightened digital activity.

How to Protect Yourself

With scams like these on the rise, it’s crucial for cryptocurrency users to stay vigilant. Here are some tips to help protect yourself:

  1. Verify Accounts and Links: Always double-check the authenticity of any account or link before interacting. If something feels off, it probably is.
  2. Avoid Unsolicited Invitations: Be cautious when receiving invitations to Telegram groups or private channels, especially those promising investment advice or exclusive deals.
  3. Don’t Rush to Verify: If you’re asked to verify your identity via a bot, take a moment to think. Scammers often create fake urgency to get you to act impulsively.
  4. Use Trusted Security Software: Always have up-to-date antivirus and anti-malware software on your devices, especially if you’re engaging with cryptocurrency-related platforms.
  5. Enable Two-Factor Authentication (2FA): Make sure to enable 2FA on your crypto wallets and any platforms that support it. It’s an extra layer of protection that could prevent scammers from gaining access to your accounts.

The crypto world continues to be a prime target for cybercriminals, and as these scams become more sophisticated, it’s more important than ever to stay informed and cautious.

spot_img

Related Posts

Trump Taps Former Bitfury Exec to Lead US Banking Regulator: What This Means for Crypto

The President’s Bold MoveIn a surprising and forward-thinking move,...

US, UK, and Australia Sanction Zservers for Alleged Ties to LockBit Crypto Ransomware Operations

Global Crackdown on Crypto Ransomware HostsIn a major international...

Metaplanet’s Stock Skyrockets 4,800% After Betting Big on Bitcoin

Metaplanet has followed in the footsteps of Bitcoin advocates...
spot_img