New Crypto Scam Alert: Fraudsters Drain Wallets Without Transaction Confirmation

Crypto News – Based on user reports and blockchain data, there is a new fraud going across Telegram that allows the attacker to take money out of the victim’s cryptocurrency wallet without the victim having to confirm a transaction.

New Crypto Scam Alert: Fraudsters Drain Wallets Without Transaction Confirmation

Only tokens that adhere to the ERC-2612 token standard—which permits “gas-less” transfers or transfers made using a wallet devoid of Ether (ETH)—are susceptible to the scam. The technique seems to fool the user into signing a message, even if it does not require users to accept a transaction.

A user said that after entering what he believed to be the official Telegram channel for OPNX, the company that developed the Open Exchange (OX) token, he lost over $600 worth of OX tokens. It was a phishing scheme, though.

What Method Was Used for Fraud?

He was prompted to connect his wallet by pressing a button upon joining the Telegram group in order to verify that he was human and not a robot. This launched a web browser window, and he linked his wallet to the website, thinking that a connection alone wouldn’t endanger his money. But all of his OX tokens were depleted in a matter of minutes. The victim stated that, despite never having accepted a single transaction on the page, his money was nevertheless taken.

It was discovered to have a phony Collab.Land Telegram verification system. Using the Telegram channel @collablandbot and two lowercase “ls,” the official Collab.Land system transmits messages. Instead of using a second lowercase “l,” this phony version used a capital “I” to send messages from @colIablandbot. These two characters are quite similar in the Telegram username typeface.