As a seasoned crypto investor, I can’t stress enough how important it is to stay informed about the latest scams in the cryptocurrency space. The recent announcement by Ledger about the “address-poisoning scam” is a clear reminder of this fact.
The Ledger wallet team has recently announced on X social media that they have identified a new form of cryptocurrency scam, whereby cybercriminals attempt to steal users’ digital assets by infiltrating their wallets.
Ledger published a thread on X to explain how this scam works and how not to fall for it.
“Address-poisoning scam”
A newly identified form of cryptocurrency fraud that Ledger is warning against goes by the name of “address contamination.” This occurs when a user unexpectedly discovers an unfamiliar digital asset, such as a coin or NFT, appearing in their wallet, which they hadn’t previously added.
If this occurs, the Ledger team issues a caution: It’s highly probable that you have been marked as a victim for a novel type of scam attack. When a swindler transfers coins to your account, this transaction will be recorded in your Ledger Live transaction history, creating an illusion that you previously transferred funds to that wallet.
Have you encountered a puzzling coin or NFT in your digital wallet that wasn’t sent by you or requested? It’s possible you’ve fallen prey to an address-poisoning scheme. Discover more about this type of scam and how to protect yourself below.
— Ledger (@Ledger) June 21, 2024
Fraudsters aim to deceive wallet owners by having them accidentally use their malicious addresses during transactions instead of the genuine ones. Nevertheless, these crooks cannot siphon off any cryptocurrency from your wallet if you remain vigilant and do not authorize any transaction yourself through your Ledger device.
Guidance on how to avoid trouble
According to the Ledger support team, the primary recommendation for avoiding falling prey to an address poisoning scam is straightforward: disregard the malevolent transaction and the associated wallet.
As a researcher, I would advise against engaging with suspicious tokens or NFTs that have been sent to you by potential scammers. To avoid any unwanted interaction, you can select the specific token or NFT in your wallet and then utilize the “Hide Token/NFT Collection” feature. This action is recommended by the Ledger team as it helps you steer clear of accidental transactions to scam wallets.
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2024-06-21 17:14