“Free” crypto traps in YouTube comments revealed

This fraud technique takes advantage of the technical existence of cryptocurrency wallets to establish trust. The wallet information provided is real and has a balance in USDT, making it easy to fool. Users can also view transaction history.

The crypto wallet’s balance and transaction history can be viewed, adding to the feeling of authenticity. When the user tries to access the wallet using the seed phrase, he realizes that in order to withdraw USDT, a certain commission fee must be paid in TRX (Tron), which is not available in the wallet. If the user transfers TRX from their personal wallet to cover the fee, these funds are immediately redirected to another wallet controlled by the fraudsters. The feed wallet is configured as a multi-signature (multisig) account, which requires additional permissions to authorize transactions. As a result, even if the trapped person tries to transfer money directly after paying the “commission”, this is not possible.

Kaspersky Senior Web Content Analyst Olga Svistunovasays: “As the saying goes, ‘If it sounds too good to be true, it probably is.’ This fraud method targets people with questionable ethics, promising them the benefit of others. However, in reality, the user unknowingly becomes the victim of a carefully orchestrated scam. Interacting with cryptocurrency platforms “We always emphasize the importance of being careful and acting ethically when passing through. Scammers continue to improve their techniques, which makes it even more important for users to be careful and informed.”

To stay safe when engaging in crypto-related activities, Kaspersky recommends:

• Be ethical and be skeptical of free crypto assets online. There is a high probability that these are scammers. Read our tips for spotting online scammers.
• Only use reputable, tried-and-true crypto wallet apps and exchange websites.
• Check carefully that you are logging in through official sites and downloading applications from legal sources.
• Use a comprehensive computer and smartphone protection solution that prevents you from accessing phishing sites or running malware.