Following the increased number of hacked social media accounts, the FBI warns the public about fake crypto and NFT-related campaigns.
A recent alert from the United States Federal Bureau of Investigation (FBI) has highlighted a growing threat in the non-fungible token (NFT) and cryptocurrency sector, involving criminals compromising social media accounts and impersonating genuine entities.
The Bureau has also highlighted the rising issue of fraudulent websites, luring unsuspecting users into a trap by appearing as trustworthy platforms.
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In a public service announcement made on August 4th, the FBI stressed the need for awareness among the public. The Bureau pointed towards "criminal actors posing as legitimate NFT developers in financial fraud schemes targeting active users within the NFT community."
According to the FBI, scammers usually gain direct access to social media accounts of NFT developers or set up deceptive accounts that closely mimic the originals. They leverage these platforms to advertise "new NFT releases." To lure victims, such posts often create "a sense of urgency" with phrases like "limited supply" or present the promotion as an unexpected or unannounced mint. The FBI further noted:
Links shared in these announcements act as phishing lures, leading victims to a counterfeit website that seems to be a legitimate extension of a specific NFT project.
These scam websites typically ask visitors to connect their wallets to claim or buy NFTs. However, instead, they are connected to a drainer's smart contract, leading to losses of funds or assets.
The FBI shared several tips to help individuals shield themselves from such scams. Among these, the Bureau emphasized conducting thorough research and "vetting any opportunity," such as surprise NFT drops or giveaways, before clicking on any links. The FBI also cautioned individuals to look for discrepancies in website URLs or account names to avoid becoming victims of impersonators.
In recent weeks, the accounts of prominent crypto figures were hacked to promote malicious websites. Most recently, at the end of July, the X (former Twitter) account of Uniswap CEO was hacked to allegedly warn investors about the hack and help them secure their funds.
