Five Sophisticated Crypto Scams Threatening Users in 2023
Blockchain security firm SlowMist reports a concerning rise in psychologically manipulative crypto scams during Q2 2023. While these scams don’t show technical advancement, they demonstrate increased sophistication in exploiting human psychology and off-chain vulnerabilities.
Deceptive Browser Extensions
Cybercriminals are distributing malicious browser extensions disguised as security tools. The “Osiris” Chrome extension, marketed as a phishing detector, secretly replaces downloaded files with malware. This attack vector proves particularly dangerous as it compromises trusted websites’ download processes.
Compromised Hardware Wallets
Scammers are distributing pre-tampered hardware wallets through social media giveaways and fake security alerts. One victim lost $6.5 million after purchasing a compromised device advertised on TikTok. These scams prey on users’ trust in physical security solutions.
Advanced Social Engineering
SlowMist identified sophisticated phishing campaigns replicating legitimate services like Revoke Cash. These fake portals trick users into surrendering private keys under the guise of security checks. The firm’s Q2 report shows these tactics accounted for significant losses.
Exploiting Blockchain Upgrades
Attackers are leveraging technical developments like Ethereum‘s Pectra upgrade to launch targeted phishing campaigns. Simultaneously, they’re hijacking social media accounts to perpetrate fraud through impersonation.
Protective Measures
- Verify all browser extensions through official channels
- Purchase hardware wallets only from authorized dealers
- Never enter private keys on unfamiliar websites
- Enable two-factor authentication for all accounts
SlowMist’s intervention recovered $12 million for 11 victims in Q2, demonstrating the importance of prompt reporting and professional assistance in mitigating losses.
