The post Elaborate Social Engineering Scam Targeting Crypto Users: Report appeared on BitcoinEthereumNews.com.

Threat actors are using an elaborate social engineering scheme to target crypto users and drain their wallets, according to a Thursday report from cybersecurity company Darktrace. The company wrote that the techniques are similar to those used by “Traffer Groups,” which use malware to steal credentials and data. The social engineering scheme involves gaining the trust of users by posing as representatives from fake startup companies in the industries of AI, gaming, Web3 and social media. Compromised X accounts are often involved, and the threat actors supplement the fraud with Medium articles and GitHub entries. “Each campaign typically starts with a victim being contacted through X messages, Telegram or Discord,” the report reads. “A fake employee of the company will contact a victim asking to test out their software in exchange for a cryptocurrency payment.” After the user downloads the software, a Cloudflare verification bubble pops up that begins to extract information about the computer. At a certain point, credentials from cryptocurrency wallets are stolen. Windows and Mac users are known to have been targeted, according to the report. A code excerpt of the malicious software extracting information. Source: Darktrace The scheme may be similar to the December 2024 attacks involved in the Meeten campaign. There have been other social engineering attacks targeting cryptocurrency users, including those allegedly orchestrated by certain groups associated with North Korea. Related: 10 red flags a crypto platform is a scam—and how to protect your money Crypto scams abound in 2025 Crypto scams, frauds, and thefts are rife in the industry, with schemes like the “pig butchering” scams and “four-dollar wrench attacks.” In some cases, they’ve become more sophisticated, relying on social engineering, hacked X accounts, and insider fraud. On July 7, Chinese authorities warned citizens about illegal fundraising schemes that, in part, were built…

---

Filed under: News - @ July 11, 2025 2:26 pm