Cybercriminals get Twitter users to share suspicious links and NFT projects by pretending to be crypto journalists and crypto applications. Then, crypto scammers would be able to find and steal sensitive information from their victims, like their login information and virtual currencies.
The problem started in March when scammers told their followers to click on certain links or even download new apps. This made users’ crypto wallets less secure, so the scammers could quickly steal money from them.
Bloomberg News says that Internet scammers are also using stolen Twitter accounts to promote shady cryptocurrency platforms that let them get private information from their victims.
Satnam Narang, a staff researcher engineer at the cybersecurity company Tenable Inc., found that the fraudsters’ pages, whether they are apps or phishing links, are made to look like real, trusted websites. They said they were part of the popular Bored Ape Yacht Club and the Okay Bears NFT community, which has more than 150,000 Twitter followers.
Attackers were able to take over the Twitter accounts of a freelance journalist who writes about the gaming industry and a legal affairs reporter from an Australian news service called The Age. They asked their followers to click on a suspicious link to claim some ether coins.
Even though the scams do a lot of damage, this is just one way that attackers make money with cryptocurrency by taking advantage of the buzz around popular projects.
In fact, the FBI Internet Crime Complaint Center says that fraud involving cryptocurrencies costs more than $1.6 billion. This is a huge jump from the $246 million cases reported in 2021.
This is similar to what happened to actor and producer Seth Green recently when he clicked on a malicious link that let hackers into his wallet and stole his 4 NFTs.