Uncovering the Counterfeit Currency Scam of Blockchain Fraud (Released in 2019)
As various exchanges in the market have started offering platform coin-related services involving quantification, voting, mortgage, and other processes, scammers have found their way into the mix. The SlowMist Blockchain Threat Intelligence recently received numerous reports of fraudulent activities. In fulfilling their responsibility and obligation to blockchain security, the SlowMist security team has taken a stand to publicly disclose the most prevalent blockchain scams at present, with the aim of protecting more people from falling victim to such scams and making it harder for scammers to operate undetected.
The Event Begins:
Imitation official personnel and fake official Telegram groups appear and invite individuals to join. Fake trading events such as borrowing, mortgage, quantification, and investment businesses are created within the group, all to make individuals believe that the events are true and that the returns are lucrative.
The Event Develops:
Fake official representatives may initiate private chats with you, using different strategies and incentives to lure you in, and then engage in fraudulent transactions with you.
Finally:
You end up transferring your real BTC, ETH, or USDT to the scammer, and the scammer gives you fake platform coins such as HT, BNB, EOS, etc.
We will now disclose a specific scam involving a Telegram account and group, as well as fake HT Token contract addresses and scammer transaction records.
Fake TG Group:
As various exchanges in the market have started offering platform coin-related services involving quantification, voting, mortgage, and other processes, scammers have found their way into the mix. The SlowMist Blockchain Threat Intelligence recently received numerous reports of fraudulent activities. In fulfilling their responsibility and obligation to blockchain security, the SlowMist security team has taken a stand to publicly disclose the most prevalent blockchain scams at present, with the aim of protecting more people from falling victim to such scams and making it harder for scammers to operate undetected.
The Event Begins:
Imitation official personnel and fake official Telegram groups appear and invite individuals to join. Fake trading events such as borrowing, mortgage, quantification, and investment businesses are created within the group, all to make individuals believe that the events are true and that the returns are lucrative.
The Event Develops:
Fake official representatives may initiate private chats with you, using different strategies and incentives to lure you in, and then engage in fraudulent transactions with you.
Finally:
You end up transferring your real BTC, ETH, or USDT to the scammer, and the scammer gives you fake platform coins such as HT, BNB, EOS, etc.
We will now disclose a specific scam involving a Telegram account and group, as well as fake HT Token contract addresses and scammer transaction records.
Fake TG Group:
Fake Huobi Official Personnel:
Fake HT contract address:
https://etherscan.io/token/0xd577bd98e1bd4e33ce20d172ca79f217658f07d8
Huobi officials have also issued a warning about the risk of fraud:
Fake imToken Official Personnel:
imToken officials have also posted articles on dissolving the Telegram group.
The SlowMist Security Team Reminders:
- Be careful and rational when someone adds you and proactively tells you about a project with high profits, asking you to invest.
- Any digital currency transfer within a wallet could result in receiving tokens with a similar name, but these may not represent the actual digital assets.
- There have been reported cases of scams involving fake BTC, ETH, EOS, OKB, HT, and BNB tokens. It is important to have a good understanding of how to use digital wallets. If you are uncertain about the authenticity of a transaction, you can test it by depositing your assets from the digital wallet to an exchange to see if it is successful. If the digital asset is fake, it will not be deposited to the exchange.
- Personnel using an exchange or wallet logo avatar may not necessarily be genuine official personnel. It is recommended to verify with the official community contacts before proceeding.
If you encounter any scams or theft, feel free to contact the SlowMist security team for assistance.
About SlowMist
SlowMist is a blockchain security firm established in January 2018. The firm was started by a team with over ten years of network security experience to become a global force. Our goal is to make the blockchain ecosystem as secure as possible for everyone. We are now a renowned international blockchain security firm that has worked on various well-known projects such as Huobi, OKX, Binance, imToken, Crypto.com, Amber Group, Klaytn, EOS, 1inch, PancakeSwap, TUSD, Alpaca Finance, MultiChain, O3Swap, etc.
Website：
https://www.slowmist.com
Twitter：
https://twitter.com/SlowMist_Team
Github：
https://github.com/slowmist/
