Crypto Scammers Use Fake Zoom Links to Steal Funds
By Philip Maina
3 weeks agoTue Jul 23 2024 12:39:39
Reading Time: 2 minutes
- Scammers are using fake Zoom links to disguise their malicious intent
- The tactic is extremely sophisticated making it hard to detect
- Scam researchers noted that scammers using this method target NFT holders and those with a huge crypto stash
Malicious actors in the crypto space have invented a sophisticated tactic to steal crypto and NFTs . The scammers are inviting victims to Zoom meetings using fake Zoom links that when opened kickstart the process of quietly siphoning victims’ assets. The scammers lure victims with promises of helping them license their holdings, inviting them to a Zoom meeting to discuss how they can help in the process, which most victims fall for because it looks like a harmless meeting.
$300,000 Lost So Far
According to X user “NFT Dreww,” the Zoom link provided by the scammers closely resembles a genuine Zoom link. However, when opened, it freezes in a loop before it encourages the victim to download an application to help get out of the loop. NFT Dreww estimates the amount stolen so far to be over $300,000
The downloaded file installs malware into the victim’s computer after which it redirects the victim to the official Zoom page, making them believe the installation solved the “loop” problem. Instead of solving the problem, the malware makes itself undetectable by a computer’s security system, extracts all necessary information and steals crypto and NFTs in the process.
Scammers Also Hacking Social Media Accounts
The tactic follows a recent move where scammers would hack social media accounts of prominent entities like the United States securities watchdog and Microstrategy and direct unsuspecting followers to crypto wallet drainers.
Scammers are also cloning popular crypto-focussed websites like Etherscan and linking them to wallet drainers. Other tactics include using Bit-flip and address-poisoning attacks.
With the malicious Zoom link closely resembling a genuine link, scammers are likely to nab more victims.
