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Security Issues: New Scam Involving Cryptocurrency Cold Wallets

Security Issues: New Scam Involving Cryptocurrency Cold Wallets

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by Giorgi Kostiuk

4 hours ago


Recent events in the cryptocurrency world have led to the emergence of a new scam related to cold wallets. An expert from the security firm SlowMist issued a warning to users.

The Nature of the New Scam

Recently, there have been cases of scams where perpetrators impersonate official institutions. They post messages on the platform X, creating an illusion of an official giveaway of cold wallets, such as Ledger. These posts claim that devices are being distributed for free.

Dangers of Fake Wallets

Experts emphasize that the real danger lies both in the device itself and in the accompanying 'startup guide.' These wallets may have been tampered with in advance, or users could be tricked into sharing their recovery phrases through social engineering methods.

Safety Recommendations

SlowMist stressed that such 'free money' opportunities could actually lead to significant losses, putting millions of dollars worth of assets at risk. Therefore, it is advisable to purchase wallets only from official sources and to avoid allowing third-party software during the installation process.

The new scam involving cold wallets highlights the importance of caution in the cryptocurrency space. Users should verify sources and remain vigilant before accepting offers that may seem too good to be true.

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