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New Crypto Scam On The Rise: What Can You Do?

A new crypto scam is on the rise, and crypto holders should be aware of it. The crypto scam in question is related, mainly, to the GameFi sector. This includes any games that have to be downloaded. The way this works is you get sent an email or a message on social media asking you to download the Beta version of their game. Then, you will have to install the downloaded file.

  • Scammers approach you, impersonating developers and asking you to download and install their files.
  • Installing the file will lead to a leak of your accounts and passwords.
  • The main goal of the scammer is to get access to your cards and cryptocurrencies.

As you can see, those are two straight-up red flags from the get-go.

  • 1st red flag – Download a file (a Beta version at that).
  • 2nd red flag – Install a downloaded file (a random file off the internet).

As you can see, simply being aware of these red flags can be enough for you to avoid getting scammed.

However, let’s explain what happens from beginning to end.

The Crypto Scammer Approach

The first thing that happens is the crypto scammer’s approach. You will receive an email or a message through any social media platform. There are even people reporting getting reached out on Discord and Skype.

This scam is in a way similar to the recent Coral Island doppelganger reported earlier in October by “Rock, Paper, Shotgun”. However, the main difference is that NFTs are the only thing that was involved in the scam process.

In this case, we’ve got a game file and installation at hand.

The Scammer’s Request & Consequences

The message will include a kind request to test out the Beta version of a game. This happens by downloading the file attached to the email or message and installing it on your computer. By doing that, you would “support” the game and test it out.

However, there is no game that comes with the file. It is malware software that can do a lot of bad things to your computer and privacy. Worst of all, it is possible that it will get access to your private usernames and passwords for different platforms.

The main goal of this scam is to get its hands on your cryptocurrencies, cards, passwords, etc. As such, it is good to be aware of scams like this one.

Although it is quite obvious that such a file can be dangerous and possibly a scam, the scammer’s approach might throw some people off. In the history of scams, you can get kind requests from the scammer himself. There might even be a bit of a get-to-know-me phase on their side.

How To Avoid Crypto Scams?

In order to avoid any crypto scams, you have to be aware of them. Those scams can come in the form of files, such as this one, or investments. The investments can range from anything like a new cryptocurrency to NFTs and other products.

Next, is to make sure that you always do your own research on different cryptocurrencies, projects, NFTs, etc. This will ensure you are aware of the situation around a given product, thus making you prone to such scams.

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