- Bitrace has discovered that scammers are now using QR codes to steal funds
- Scammers are asking victims to scan QR codes under the guise of a payment transfer test
- Bitrace noted that the scammers target crypto users open to conducting over-the-counter trades
Crypto scammers continue inventing new ways to siphon funds from unsuspecting victims with their latest invention being the use of QR codes. The scammers target people willing to conduct over-the-counter (OTC) crypto trades instead of going through an exchange. Malicious actors disguise the QR code as a payment transfer test, making it hard for victims to suspect any hidden agenda in the trade.
A Friendship, Free USDT, Then a Hack
According to blockchain analysis firm Bitrace, scammers scout for victims on social media platforms where they initiate their first contact by cultivating a friendship. They then send victims a small amount of USDT to gain their trust.
The malicious actors ask the victims to return the funds to a wallet presented as a QR code, making it hard for victims to see what is on the other side of the code.
Scanning the QR code redirects victims to a website requiring them to confirm the transaction, after which their wallets are drained. Bitrace noted that malicious actors have stolen over $100,000 worth of USDT using this method within roughly one week ending July 17.
The stolen funds were then transferred to Huione, a crypto exchange that has previously been accused of offering money laundering services.
NFTs Stolen Through Fake Zoom Links
The new tactic comes barely two weeks after scammers were caught using fake Zoom links to steal crypto. Scam researchers revealed that malicious actors using this trick mainly target NFT holders and crypto whales.
It also comes a week after a British national, Elliott Gunton, was jailed for 3.5 years for scamming Coinbase users out of more than $900,000.
With malicious actors changing their tactics, they’re likely to nab more victims.
