MetaMask's crypto users are at risk of getting their digital wallets drained.
(Photo : Photo by Jack Taylor/Getty Images)
In this photo illustration of the ethereum cryptocurrency 'altcoin' sits arranged for a photograph on April 25, 2018 in London, England. Cryptocurrency markets began to recover this month following a massive crash during the first quarter of 2018.
The crypto wallet provider announced that a new digital coin scam is targeting its users.
"A new scam called 'Address Poisoning' is on the rise," said the company via its official announcement post on Jan. 12.
MetaMask's tweet has already generated over 1,300 retweets and 2,900 likes. In the comment section, many users shared their concerns.
If you are one of them, here's what you need to know about the new address poisoning scam.
MetaMask Crypto Users Targeted by 'Address Poisoning' Scam!
According to Coin Telegraph's latest report, the new crypto scam targeting MetaMask users is a simple campaign.
(Photo : Photo Illustration by Dan Kitwood/Getty Images)
In this photo illustration a visual representation of the digital currency Bitcoin sinks into water on August 15, 2018 in London, England. Most digital currencies including Bitcoin, (BTC) Ethereum, (ETH) Ripple (XRP) and Stella (XLM) have seen a dramatic fall in their prices throughout 2018 amid a 'mass sell-off'.
Also Read: Fake Crypto Wallet Apps Target iOS, Android Users-Mimicking Coinbase, Metamask, and More!
Although it doesn't rely on malware or other malicious software, the address poisoning scam can easily fool people.
MetaMask explained that the new malicious campaign works by sending token transaction records with a $0 value.
These fake txn records will contain addresses generated from vanity address generators; they look legit since they match the first and last characters of their victims' real crypto wallet addresses.
This can confuse users since these fake txn will be included in their legitimate transaction records.
They use an address with the same first & last few characters as the real transaction you sent; in hopes you will not check the full address, and instead copy theirs in a future txn. (2/3) - More detail here: https://t.co/xGxNgRX4WM)
— MetaMask Support (@MetaMaskSupport) January 11, 2023
The crypto wallet company said that the tactic could easily fool users who habitually copy their MetaMask wallet addresses.
If you also have this habit, you could send your funds to fake wallet addresses.
How MetaMask Users Can Stay Safe
If you are a MetaMask user, the crypto wallet company provided some tips on how to avoid the new address poisoning scam.
These include the following:
- Avoid copying your crypto wallet address during transactions.
- If you can't get rid of this habit, the best thing you can do is to double-check or triple-check wallet addresses before sending your funds.
- Use MetaMask's feature for frequently used addresses (Settings > Contacts)
If you want to learn more details about the new address poisoning scam that targets MetaMask, you can click here.
Aside from MetaMask and other crypto-related companies, social media platforms are also targeted by cybercriminals.
Recently, a hacker claimed that he sold over 400 million Twitter user data.
FBI also warned the public regarding cybercriminals using search engine ads to run scams.
For more news updates about scams and other malicious campaigns, keep your tabs open here at TechTimes.
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