PeckShield Reports Zero Transfer Scammer Steals 20,000 USDTs

04/05/2023 06:15 • Metaverse Matters • 150 views

According to reports, PeckShield monitoring data shows that a Zero Transfer scammer scammed 20000 USDTs from addresses starting with 0x532265.

Zero transfer scammers scammed 20000 USDTs from addresses starting with 0x532265

In recent news, PeckShield has reported that a Zero Transfer scammer has managed to steal 20,000 USDTs from various addresses starting with 0x532265. This scam has been a prime example of how hackers can use simple tactics to steal cryptocurrency from unsuspecting victims. In this article, we will take a closer look at this scam and how you can protect yourself from falling victim to it.

What is a Zero Transfer Scam?

A Zero Transfer scam involves the attacker sending a small amount of cryptocurrency, such as 0.00001 ETH, to a victim’s wallet with a memo that requests the victim to withdraw the cryptocurrency from an exchange account. This small transaction makes it look legitimate and innocent, however, the real scam comes when the victim goes to withdraw the cryptocurrency from their exchange account.
The scammer will then change the destination address to their own, which is meant to mimic the victim’s wallet but is slightly different, such as 0x523265. This difference is hard to spot and the victim ends up transferring their cryptocurrency directly to the scammer, thinking they are transferring it to their own wallet.

How did the Scammer Steal 20,000 USDTs?

According to PeckShield monitoring data, the Zero Transfer scammer was able to steal 20,000 USDTs from unsuspecting victims with wallets starting with 0x532265. This is a significant amount of cryptocurrency to lose, and it is important to understand how this scam works to prevent further losses.
It is believed that the scammer started with small transfers, such as 0.00001 USDT, to test the waters before moving on to larger sums. Once the scammer had gained the trust of a few victims, they were able to execute larger scams, eventually stealing a massive 20,000 USDTs.

How to Protect Yourself from Zero Transfer Scams

The best way to avoid falling victim to a Zero Transfer scam is to be vigilant and double-check all transactions. Always pay attention to the destination address, even if it appears to be only slightly different from your wallet address. Take time to carefully verify all transactions before you hit the send button.
Also, avoid blindly following any requests or memos in transactions. If something seems suspicious, never hesitate to reach out to the support team of the cryptocurrency exchange for advice.
Finally, always use additional security measures, such as two-factor authentication, to protect your account from unauthorized access.

Conclusion

The Zero Transfer scam is just one example of how cryptocurrency scams are becoming more sophisticated and widespread. It is important to stay informed and vigilant to protect your investments from being stolen. Always verify every transaction carefully, and never follow any unsolicited requests or memos. By following these simple steps, you can protect your valuable cryptocurrency from falling into the hands of scammers.

FAQs

1. What is a Zero Transfer scam?
A Zero Transfer scam is a type of cryptocurrency scam that involves the attacker sending a small amount of cryptocurrency to a victim’s wallet before tricking them into transferring cryptocurrency to the scammer’s wallet.
2. How can I protect myself from Zero Transfer scams?
Pay close attention to transaction details such as the destination wallet address, and always verify any unsolicited requests or memos. Use additional security measures like two-factor authentication and avoid blindly following any requests in transactions.
3. What should I do if I fall victim to a Zero Transfer scam?
If you believe you have fallen victim to a Zero Transfer scam, immediately contact the support team of the cryptocurrency exchange for advice and steps to rectify the situation.

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